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LOS ANGELES, April 19, 2023 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Alvotech (“Alvotech” or “the Company”) ALVO Investors that the Company has launched an investigation into possible securities fraud and may be filing a class action lawsuit on behalf of investors. Alvotech investors who have lost money investing are encouraged to do so Contact Lesley Portnoy, Esq.

Investors are encouraged to contact an attorney Lesley F Portnoyby phone 844-767-8529 or E-mail: lesley@portnoylaw.comto discuss your legal rights, or Click here to join the case about www.portnoylaw.com. Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.

The investigation focuses on whether Alvotech has deceived investors by making misleading or untrue statements or withholding important information. On April 13, 2023, Alvotech announced that the FDA had contacted it regarding deficiencies in its manufacturing facility and processes in Reykjavik, Iceland, following the agency’s March 2023 inspection. Alvotech acknowledged that these deficiencies would need to be addressed prior to approving the company’s Biologics License Application (BLA) for AVT02. Following the announcement, Alvotech’s shares plummeted 22.1%.

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Portnoy Law Firm represents investors in asserting claims against companies caused by wrongdoing. The firm’s founding partner has recovered over $5.5 billion for aggrieved investors. attorney advertising. Previous results do not guarantee similar results.

Lesley F. Portnoy, Esq.
Bar Association in CA and NY
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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