Alvotech (NASDAQ: ALVO)

This investigation is for anyone who acquired securities in Alvotech (NASDAQ: ALVO) prior to April 13, 2023.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had proper controls in place to assure the safe manufacture of its products when the Company lacked such controls.

On April 13, 2023, Alvotech disclosed that it received communication from the FDA regarding the FDA’s March 2022 inspection of Alvotech’s manufacturing facility in Reykjavik, Iceland. According to Alvotech, the FDA noted certain deficiencies related to the Reykjavik facility and stated that satisfactory resolution of the deficiencies is required before the FDA can approve the Company’s Biologics License Application (BLA) for AVT02. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Alvotech (NASDAQ: ALVO) prior to April 13, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.