AlloVir, Inc. Securities Lawsuit Investigation

Shamis & Gentile P.A., one of the nation's premier class action law firms specializing in securities fraud cases, is investigating potential claims against AlloVir, Inc. (ALVR).

If you purchased or held AlloVir, Inc. securities between March 22, 2022 and December 21, 2023, you may be eligible to join this class action lawsuit and seek compensation for your losses.

About AlloVir, Inc.

AlloVir, Inc. is a clinical-stage biotechnology company that focused on developing allogeneic, off-the-shelf multi-virus specific T cell (VST) therapies. These therapies were designed to prevent and treat severe viral-associated diseases, particularly in immunocompromised patients such as those who have undergone allogeneic hematopoietic cell transplants.

The company’s lead product candidate, posoleucel, was developed to target six common and potentially life-threatening viruses. AlloVir initiated global Phase 3 studies for posoleucel, aiming to address a significant unmet need in high-risk patient populations. The company’s securities traded on the Nasdaq under the ticker symbol ALVR.

The Allegations

The class action lawsuit alleges that AlloVir and certain top executives made materially false and misleading statements, or failed to disclose important information, about the prospects of its lead drug candidate, posoleucel.

The complaint alleges that:

• The posoleucel Phase 3 studies were unlikely to meet their primary endpoints.
• As a result, AlloVir was likely to discontinue these studies.
• The company overstated the efficacy and clinical/commercial prospects of posoleucel.
• These misstatements rendered the company’s public disclosures materially false and misleading during the relevant period.

On December 22, 2023, AlloVir announced it was discontinuing all Phase 3 studies of posoleucel after independent analyses determined the studies would not meet their primary endpoints. The company also stated it would explore strategic alternatives moving forward. Following this news, AlloVir’s stock price dropped sharply, falling 67.38%, from $2.33 to $0.76 per share, on December 22, 2023.

The class period for this lawsuit covers investors who purchased or otherwise acquired AlloVir securities between March 22, 2022 and December 21, 2023.

Important Dates

• Class period: March 22, 2022 to December 21, 2023
• Lead plaintiff deadline: March 19, 2024 (this date has passed)
• Complaint filed: January 19, 2024

Your Rights and Next Steps

If you purchased or acquired AlloVir, Inc. securities during the class period, you may have legal rights as part of this class action lawsuit. Even though the lead plaintiff deadline has passed, investors may still be able to participate as class members and potentially recover losses if the case is successful.

Next Steps:

• Review your investment records to confirm purchases or holdings of AlloVir securities between March 22, 2022 and December 21, 2023.
• Understand that joining the class action does not require you to pay any upfront legal fees.
• Lawyers are ready to help answer your questions, guide you through the process, and represent your interests in the litigation.
• If you suffered losses, you may be eligible to recover compensation if the lawsuit results in a settlement or favorable judgment.

You May Be Entitled to Compensation

Investors who purchased or held AlloVir, Inc. securities during the class period may be entitled to financial compensation. If you believe you suffered losses as a result of the alleged misconduct, you can take action now. Lawyers are ready to help you understand your rights and pursue potential recovery.

To see if you qualify and to join the lawsuit, complete the below form. This is the first step in seeking compensation for your investment losses.