ADVM Investors Have Opportunity to Join Adverum Biotechnologies, Inc. Fraud Investigation with the Schall Law Firm

LOS ANGELES, April 15, 2025 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Adverum Biotechnologies, Inc. ("Adverum" or "the Company") (NASDAQ: ADVM) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Adverum disclosed in an SEC filing on March 31, 2025, 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')." Based on this news, the Company announced it would 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." Based on this news, shares of Adverum fell by more than 12% on April 1, 2025.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm 
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com

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SOURCE The Schall Law Firm