Biogen Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Biogen Inc. (NASDAQ: BIIB) securities between June 7, 2021 and January 11, 2022.
According to the Biogen lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose 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.
If you suffered a loss in Biogen you have until April 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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