Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Biogen Inc. (NASDAQ: BIIB) securities.
If you suffered a loss on your Biogen investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jun 07 2021 - Jan 11 2022
CASE DETAILS:
1) there was a significant, undisclosed lobbying campaign between Biogen and the Food and Drug Administration (“FDA”) that was instrumental in the decision to file and approve Aduhelm, a drug being developed to treat Alzheimer’s disease; 2) the Phase III ENGAGE study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer’s patients; 3) ENGAGE was a failed study from which Biogen concluded not to seek FDA approval for Aduhelm in 2019; and 4) defendants misled investors as to the way in which approval was achieved, that the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious.
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