The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) who purchased shares between January 13, 2020 and September 3, 2021. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the BioMarin lawsuit alleges that (i) BMN 307, an Adeno-Associated Virus Vector-Mediated Gene Transfer of Human Phenylalanine Hydroxylase, was less safe than BioMarin had led investors to believe; (ii) BMN 307’s safety profile made it likely that the Food and Drug Administration would place a clinical hold on the Phearless Phase 1/2 study; (iii) accordingly, the Company had overstated BMN 307’s clinical and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 22, 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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