Labaton Sucharow LLP, a leading investor rights law firm, announces it is investigating potential securities claims on behalf of former shareholders of Avedro Inc. (NASDAQ: AVDR) concerning allegations that Glaukos Corp. (NASDAQ: GKOS), may have issued materially misleading business information to the investing public in connection with its November 2019 merger with Avedro.
On November 22, 2019, holders of Avedro stock received 0.365 shares of Glaukos stock for each share of Avedro stock. The value of the Company’s stock at the close of the Acquisition was $61.33 per share.
Glaukos, headquartered in San Clemente, California, creates and delivers therapies for patients struggling with eye conditions such as glaucoma, corneal disorders, and retinal diseases. The Company’s top product is the iStent inject (“iStent”), a glaucoma treatment. As early as February 2018, Glaukos began to tout the iStent as a superior choice for doctors and, at the time of the Acquisition, Glaukos downplayed the impact that competing products were having on iStent sales.
In December 2019, shortly after the Acquisition, Glaukos explained that another company, Ivantis, had been targeting its customers. Then, in February 2020, Glaukos revealed that competition was negatively impacting its iStent sales after the Company issued a negative financial forecast. On this news, Glaukos stock dropped to $43.98 per share, more than 28 percent lower than its value at the time of the Acquisition
If you are a former Avedro shareholder and/or current shareholder of Glaukos and wish to learn more or discuss the issues surrounding the investigation, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at firstname.lastname@example.org
About the Firm Labaton Sucharow LLP is one of the world’s leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.