NEW YORK, NY / ACCESS Newswire / April 2, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Adverum Biotechnologies, Inc. ("Adverum Biotechnologies") (NASDAQ:ADVM) concerning possible violations of federal securities laws.

Adverum disclosed in a filing on March 31, 2025, 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."

Following this news, Adverum's stock price fell over 12% on April 1, 2025. To obtain additional information, go to:

https://zlk.com/pslra-1/adverum-biotechnologies-lawsuit-submission-form?prid=140504&wire=1

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.

WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/

SOURCE: Levi & Korsinsky, LLP

View the original press release on ACCESS Newswire