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 June 7, 2021 and January 11, 2022. The action, which was filed in the United States District Court for the District of Massachusetts, alleges that the Company violated federal securities laws.
In particular, the Biogen lawsuit alleges that 1) there was a significant, undisclosed lobbying campaign between Biogen and the Food and Drug Administration (“FDA”) that was instrumental in the decision to file and approve Aduhelm, a drug being developed to treat Alzheimer’s disease; 2) the Phase III ENGAGE study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer’s patients; 3) ENGAGE was a failed study from which Biogen concluded not to seek FDA approval for Aduhelm in 2019; and 4) defendants misled investors as to the way in which approval was achieved, that the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious.
Shareholders have until April 8, 2022 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.
To learn more and keep informed, complete this form >