Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of
$100,000 Investing in AVEO Pharmaceuticals, Inc. to Contact the Firm -- AVEO
NEW YORK, June 25, 2013 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading
national securities law firm, reminds investors of AVEO Pharmaceuticals, Inc.
("AVEO" or the "Company") (Nasdaq:AVEO) of the July 8, 2013 deadline to seek
the role of lead plaintiff in a federal securities class action lawsuit filed
against the Company and certain executives.
A complaint has been filed on behalf of all persons who purchased or otherwise
acquired AVEO securities between January 3, 2012 and May 1, 2013 (the "Class
The action alleges that the Company and its executives violated federal
securities laws by issuing materially false and/or misleading statements
regarding the Company's Phase III drug trials for Tivopath (tivozanib) (titled
"TIVO-1"). Specifically, the investigation focuses on whether the Company
failed to disclose that: (1) the FDA had recommended to the Company that it
conduct an additional Phase III trial due to adverse trends in the Company's
first tivozanib drug study; (2) there was a 25% higher rate of death
associated with tivozanib therapy compared to the control drug, sorafenib; and
(3) almost 90% of the patients studied in TIVO-1 were enrolled from sites in
Central and Eastern Europe with inconsistent treatment patterns from those in
the United States.
On April 30, 2013, the FDA released its Oncologic Drugs Advisory Committee
("ODAC") briefing document, highlighting the regulatory history of Tivopath
and the fact that the Company disregarded explicit FDA recommendations for the
Company to conduct an additional Phase III trial. On this news, the Company's
share prices fell $2.33, or 31.31% per share, to close at $5.11 on April 30,
On May 2, 2013, the ODAC voted 13 to 1 to not recommend approval of the
tivozanib, noting "tivozanib did not demonstrate a favorable benefit-to-risk
evaluation for the treatment of advanced renal cell carcinoma (RCC) in an
adequate and well-controlled trial." On this news, AVEO shares declined $2.61
per share, or nearly 50%, to close at $2.65 per share on May 2, 2013.
Request more information now by clicking here: www.faruqilaw.com/AVEO. There
is no cost or obligation to you.
If you invested in AVEO stock or options between January 3, 2012 and May 1,
2013 and would like to discuss your legal rights, visit
www.faruqilaw.com/AVEO. You can also contact us by calling Richard Gonnello or
Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending
an e-mail to firstname.lastname@example.org or email@example.com. Faruqi &
Faruqi, LLP also encourages anyone with information regarding AVEO's conduct
to contact the firm, including whistleblowers, former employees, shareholders
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.
CONTACT: FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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