AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) Investor Securities Class Action Lawsuit 02/25/2019

If you purchased a significant amount of shares of AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
AVEO Pharmaceuticals
Case Name: 
AVEO Pharmaceuticals Shareholder Class Action Lawsuit 02/25/2019
Case Status: 
Lawsuit Filed
Case Status: 
Case Dismissed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
Class Period Begin: 
Class Period End: 
Court of Filing: 
U.S. District Court for the District of Massachusetts
Deadline To File for Lead: 

July 24, 2020 - The Court issued an Order granting Defendants' Motion to Dismiss.

September 27, 2019 - Defendants filed a Motion to Dismiss the amended Complaint.

July 24, 2019 - An amended Complaint was filed.

April 12, 2019 - the Court issued an Order transferring this action to the District of Massachusetts.

February 25, 2019 - An investor in shares of AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by AVEO Pharmaceuticals, Inc. in connection with certain allegedly false and misleading statements made between August 4, 2016 through January 31, 2019.

Cambridge, MA based AVEO Pharmaceuticals, Inc., a biopharmaceutical company, develops and commercializes a portfolio of targeted medicines for oncology and other areas of unmet medical need. AVEO Pharmaceuticals, Inc reported that its annual Total Revenue rose from $2.51 million in 2016 to $7.57 million in 2017 and that its Net Loss increased from $26.88 million in 2016 to $65.02 million in 2017.

On January 31, 2019, AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) announced it would not file a New Drug Application for tivozanib (FOTIVDA®). According to AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO), the FDA indicated that these “preliminary OS results do not allay their concerns about the potential detriment in OS outlined in the complete response letter dated June 6, 2013.

Shares of AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) declined from $3.49 per share in September 2018 to as low as $0.56 per share on February 1, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) common shares between August 4, 2016 through January 31, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 4, 2016 through January 31, 2019, the defendants made false and/or misleading statements and/or failed to disclose that the TIVO-3 trial was inadequately designed to address the overall survival concerns regarding AVEO’s lead candidate drug, tivozanib, from the TIVO-1 trial presented back in the June 2013, that tivozanib had insufficient survival data to obtain U.S. Food and Drug Administration (“FDA”) approval following its initial rejection by the FDA in 2013, that this lack of sufficient survival data would put tivozanib at greater risk of delayed FDA approval, and that as a result, AVEO’s public statements were materially false and misleading at all relevant times.