Biogen Inc. Class Action Lawsuit - BIIB

The filed complaint alleges that Biogen Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Biogen had overstated its efforts to enhance its transparency, corporate governance, and compliance controls and procedures, as well as the efficacy of those controls and procedures; (ii) accordingly, Biogen maintained inadequate compliance controls and procedures in connection with its business operations in foreign countries; (iii) Biogen and/or its employees were engaged in unlawful or otherwise improper conduct in several foreign countries; (iv) the foregoing subjected the Company to a heightened risk of governmental and/or regulatory scrutiny and enforcement action, as well as significant legal, financial, and reputational harm; (v) Biogen overstated the strength of its Alzheimer’s disease related product portfolio, including the its joint efforts and success with pharmaceutical company, Eisai, in launching and providing access to Leqembi; (vi) Biogen also downplayed the negative impact that the Reata Acquisition would have on its FY 2023 non-GAAP diluted EPS; (vii) all the foregoing were likely to have a significant negative impact on Biogen’s 2023 results; and (viii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

In order to be eligible to join the BIIB class action lawsuit, you must have incurred a loss on shares of Biogen purchased during the class period listed above.

If you suffered a loss in Biogen during the relevant time frame or pursuant to the relevant offering(s), you have until July 22, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.