|Company Name||Biogen Inc.|
|Class Period||October 22, 2019 to November 6, 2020|
|Motion Deadline||January 12, 2021|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Biogen Inc. (NADSAQ: BIIB). Investors who purchased BIIB stock or other securities between October 22, 2019 and November 6, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email firstname.lastname@example.org or call 617-531-3917. Interested Biogen investors have until January 12, 2021 to apply to be a lead plaintiff.
Biogen purports to discover, develop, manufacture, and deliver therapies for treating neurological and neurodegenerative diseases, including aducanumab (BIIB037), an investigational human monoclonal antibody being studied for use as a treatment for early Alzheimer’s disease. Studies assessing aducanumab included PRIME, EMERGE, and ENGAGE.
On October 22, 2019, Biogen issued a press release announcing, in relevant part, that it planned to pursue the U.S. Food and Drug Administration’s approval for aducanumab based on new analysis of a larger dataset from Phase 3 studies.
The case alleges that Biogen and its senior executives made misleading statements to investors and failed to disclose that: (1) the larger dataset did not provide necessary data regarding aducanumab’s effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumab’s effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness; and (4) the data provided by Biogen to the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee did not support a finding of efficacy for aducanumab. When the public was made aware of this information, Biogen’s stock price fell 28%, allegedly damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Biogen investors have until January 12, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.