Biogen Inc.

Registration Deadline:

07/22/2024

A securities class action has been filed in the USDC CO. against Biogen Inc. (BIIB) (“Biogen” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Biogen securities between February 3, 2022 and February 13, 2024, both dates inclusive (the “Class Period”).

 

Biogen is a global biopharmaceutical company that discovers, develops, and delivers therapies for people living with serious and complex diseases worldwide. The Company operates in various countries throughout the Americas, Europe, and Asia.

 

The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

 

(1) 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;

(2) accordingly, Biogen maintained inadequate compliance controls and procedures in connection with its business operations in foreign countries;

(3) Biogen and/or its employees were engaged in unlawful or otherwise improper conduct in several foreign countries;

(4) 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;

(5) Biogen overstated the strength of its AD-related product portfolio, including the Company’s and Eisai’s efforts and success in launching and providing access to Leqembi;

(6) Biogen also downplayed the negative impact that the Reata Acquisition would have on its FY 2023 non-GAAP diluted EPS;

(7) all the foregoing were likely to have a significant negative impact on Biogen’s 2023 results; and

(8) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.

 

If you purchased Biogen securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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