July 15, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Avinger Inc (NASDAQ:AVGR) shares over potential securities laws violations by Avinger Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Avinger Inc (NASDAQ:AVGR) concerning whether a series of statements by Avinger Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Avinger Inc reported that its annual Total Revenue declined from $11.21 million in 2014 to $10.71 million in 2015 and that its Net Loss increased from $31.96 million in 2014 to $47.34 million in 2015.

On July 12, 2016, Avinger Inc announced its preliminary second quarter 2016 revenue results. Avinger Inc announced that it expects total revenue of $4.7 million for the second quarter ended June 30, 2016, versus the consensus estimate of $5.70 million. Avinger Inc said that it now expects 2016 revenue to be in the range of $19 million to $23 million, compared to previous guidance in the range of $25 million to $30 million.

Shares of Avinger Inc (NASDAQ:AVGR) declined on July 15, 2016, to as low as $6.16 per share.