| COMPANY |
Biogen Inc. |
| COURT |
United States District Court for the District of Colorado |
| CASE NUMBER |
24-cv-01444 |
| JUDGE |
Honorable Philip A. Brimmer |
| CLASS PERIOD |
February 3, 2022 through February 13, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Biogen Inc. (“Biogen”) (NASDAQ: BIIB) securities between September 14, 2020 and November 14, 2024, both dates inclusive (the “Class Period”).
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, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Biogen had overstated its efforts to enhance its transparency, corporate governance, and compliance controls and procedures, as well as the efficacy of those controls and procedures; (2) Tecfidera and Leqembi, two of Biogen’s drugs for the treatments of multiple sclerosis and Alzheimer’s disease, faced significant competition from the generic market; (3) as a result, Biogen conspired with pharmacy benefits managers (“PBMs”) to suppress competition from generic versions of the drugs to lessen the losses; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
Current Status of Case:
On February 18, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.