CDMO - CDMO LOSS ALERT: ROSEN TRUSTED INVESTOR COUNSEL Encourages Avid Bioservices Inc. Investors to Inquire About Securities Class Action Investigation – CDMO | Benzinga
NEW YORK, March 23, 2024 (GLOBE NEWSWIRE) --
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Avid Bioservices, Inc. (NASDAQ:CDMO) resulting from allegations that Avid Bioservices may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Avid Bioservices securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=23144 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On March 6, 2024, after market hours, Avid Bioservices filed a current report on Form 8-K with the SEC, in which it stated that it had "received an acceleration notice (the "Acceleration Notice") from a holder of its 1.250% Exchangeable Senior Notes due 2026 (the "2026 Notes"). The Acceleration Notice stipulates, among other things, that (i) the Company did not remove the restrictive legend on the 2026 Notes by March 17, 2022 as required under ...