Faruqi & Faruqi Obtains Final Court Approval Of $13 Million Settlement On Behalf Of Shareholders Of Avalanche Biotechnologies, Inc.

Faruqi & Faruqi is pleased to announce that on January 19, 2018, the Honorable Marie S. Weiner, Judge of the California Superior Court of San Mateo County, granted final approval of the global settlement reached in In re Avalanche Biotechnologies Securities Litigation, No. 15-cv-03185 (JD) (N.D. Cal.) and the parallel action In re Avalanche Biotechnologies Shareholder Litigation, CIV536488 (San Mateo Cnty. Super. Ct.).  The settlement provides for a cash payment of $13,000,000 in exchange for plaintiffs’ release of all claims alleged in the actions.  This is an excellent recovery for the class and constitutes a material percentage of the likely provable damages suffered during the Class Period.