NEW YORK, March 07, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Avid Bioservices, Inc. (“Avid” or the “Company”) (NASDAQ: CDMO) on behalf of Avid stockholders. Our investigation concerns whether Avid has violated the federal securities laws and/or engaged in other unlawful business practices.

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After the market close on March 6, Avid Bioservices disclosed that it is evaluating whether its previously issued financial statements should be relied on and that it may not be able to timely file its most recent quarterly financial results. Avid attributed this to having failed to remove a restrictive legend on previously issued 1.25% exchangeable notes.

Shares of Avid Bioservices, Inc. dropped more than 28% in intraday trading on March 7, 2024.

If you purchased or otherwise acquired Avid shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com