NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) — Attorney Advertising – Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Biogen Inc. (“Biogen Inc.” or “the Company”) (NASDAQ: BIIB) and certain of its officers.
Class definition:
This action seeks to recover damages from Defendants for alleged violations of the federal securities laws on behalf of all persons and entities who purchased or otherwise acquired Biogen Inc. securities between February 3, 2022 and February 13, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the Company’s website: bgandg.com/BIIB.
Case details:
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, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that (1) Biogen exaggerated its efforts to improve transparency, corporate governance and compliance controls and procedures and the effectiveness of those controls and procedures; (2) Biogen accordingly maintained inadequate compliance controls and procedures in connection with its foreign operations; (3) Biogen and/or its employees engaged in illegal or otherwise improper conduct in several countries; (4) the foregoing placed the Company at increased 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 bringing Leqembi to market and providing access to it; (6) Biogen also downplayed the negative impact the Reata acquisition would have on its fiscal 2023 diluted non-GAAP earnings per share; (7) all of the foregoing would likely have a material adverse effect on Biogen’s 2023 results; and (8) as a result, the Company’s public statements were materially false and misleading at all relevant times.
What’s next?
A class action lawsuit has already been filed. If you would like to review a copy of the lawsuit, you may visit the firm’s website: bgandg.com/BIIB or you may contact Peretz Bronstein, Esq. or his Client Relations Manager Nathan Miller of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss at Biogen Inc., you have until July 22, 2024 to request that the court appoint you as lead plaintiff. Your ability to share in any compensation is not dependent on your serving as lead plaintiff.
There are no costs for you
We represent investors in class action lawsuits on a contingency basis, meaning we ask the court to reimburse us for our expenses and attorney fees (usually a percentage of the total award) only if we win.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized law firm representing investors in securities fraud class action lawsuits and shareholder actions involving derivatives trading. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Past results do not guarantee similar results.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | [email protected]
