Adverum Biotechnologies(ADVM) Prnewswire·2025-04-08 14:00Core Viewpoint - Pomerantz LLP is investigating potential securities fraud and unlawful business practices involving Adverum Biotechnologies, Inc. following the company's announcement of the need to restate its financial statements due to accounting errors [1][2]. Group 1: Company Financials - On March 31, 2025, Adverum disclosed that certain previously issued financial statements should no longer be relied upon due to non-cash errors related to tenant improvement allowances for an operating lease in North Carolina [2]. - Adverum will restate its financial statements for the years ended December 31, 2022 and 2023, as well as the unaudited quarterly financial information for the periods in 2023 and 2024 [2]. - Following this announcement, Adverum's stock price fell by 3.83 per share on April 1, 2025 [2]. Group 2: Legal Context - Pomerantz LLP is recognized as a leading firm in corporate, securities, and antitrust class litigation, with a history of fighting for victims of securities fraud and corporate misconduct [3]. - The firm has a track record of recovering multimillion-dollar damages for class members [3].