Shareholders Foundation, Inc.

AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) Long Term Investor Investigation over Potential Wrongdoing

An investigation on behalf of current long term investors in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:AVEO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (SBWIRE) -- 07/15/2013 -- An investigation on behalf of current long-term investors in shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) was announced concerning whether certain directors and officers of AVEO Pharmaceuticals, Inc. breached their fiduciary duties in connection with certain statements made between January 3, 2012 and May 1, 2013 concerning its drug Tivopath or tivozanib.

Investors who are current long term investors in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) stocks follows a lawsuit filed earlier against AVEO Pharmaceuticals, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) stocks concerns whether certain AVEO Pharmaceuticals officers and directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges that AVEO Pharmaceuticals, Inc. violated the Securities Exchange Act of 1934. More specifically, the plaintiff alleges that defendants allegedly conditioned investors to believe that the Company's drug Tivopath or tivozanib, would receive approval from the U.S. Food and Drug Administration ("FDA") through a host of materially allegedly false and misleading statements regarding its Phase III ("TIVO-1") trial design and results.

Then on May 2, 2013, AVEO Pharmaceuticals, Inc. announced that a Food and Drug Administration panel recommended its drug Tivopath not be approved as a treatment for advanced kidney cancer. AVEO Pharmaceuticals, Inc. and Astellas Pharma Inc. said that the U.S. Food and Drug Administration’s Oncologic Drugs Advisory Committee voted that the application for investigational agent tivozanib did not demonstrate a favorable benefit-to-risk evaluation for the treatment of advanced renal cell carcinoma (RCC) in an adequate and wellcontrolled trial (13 to 1, 0 abstentions).

Shares of AVEO Pharmaceuticals, Inc. declined from $8.27 per share on April 24, 2013, to $2.34 per share on May 6, 2013.

On July 12, 2013, NASDAQ:AVEO shares closed at $2.55 per share, which is significantly below its current 52 week High of $14.08 per share.

Those who purchased shares of AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com