The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Biogen Inc. (NASDAQ: BIIB) who purchased shares between October 22, 2019 and November 6, 2019. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Biogen lawsuit alleges 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 the effectiveness of aducanumab, Biogen’s investigational human monoclonal antibody studied for the treatment of early Alzheimer’s disease; (3) the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness; (4) the data provided by the Company to the U.S. Food and Drug Administration’s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until January 12, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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