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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Adverum Biotechnologies, Inc. - ADVM

1. Adverum faces investigation for potential securities fraud. 2. Company's financial statements deemed unreliable due to accounting errors. 3. Adverum's stock dropped 12.36% after the announcement. 4. Restatement of financials for 2022 and 2023 will occur. 5. Pomerantz LLP is leading the investigation for affected investors.

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FAQ

Why Very Bearish?

The significant stock drop indicates a severe loss of investor confidence, similar to past incidents in biotech firms that faced restatements or fraud allegations, which often led to persistent declines in stock prices over time.

How important is it?

The investigation may indicate serious corporate governance issues, directly affecting stock performance and investor trust.

Why Short Term?

Investor reactions tend to be immediate in response to such serious allegations, likely maintaining pressure on the stock until clarity is achieved.

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NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Adverum Biotechnologies, Inc. (“Adverum” or the “Company”) (NASDAQ: ADVM).  Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980. The investigation concerns whether Adverum and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  [Click here for information about joining the class action] On March 31, 2025, Adverum disclosed in a filing with the U.S. Securities and Exchange Commission that “certain of the Company’s previously issued financial statements should no longer be relied upon due to non-cash errors identified in the accounting for tenant improvement allowances associated with an operating lease and sublease related to a building in North Carolina (the ‘NC Premises’).” Accordingly, Adverum announced that it will restate its “financial statements as of and for the years ended December 31, 2022 and 2023, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 . . . , as well as the unaudited condensed consolidated quarterly financial information for the quarterly periods in the years ended December 31, 2023 and 2024.” On this news, Adverum’s stock price fell $0.54 per share, or 12.36% to close at $3.83 per share on April 1, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com. Attorney advertising. Prior results do not guarantee similar outcomes.    CONTACT:Danielle PeytonPomerantz LLPdpeyton@pomlaw.com646-581-9980 ext. 7980

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