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, inclusive (the “Class Period”).
Biogen is a biotechnology company that is focused on the development and commercialization of drugs derived from living materials for the treatment of complex and rare disorders, primarily neurological conditions.
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 to suppress competition from generic versions of the drugs to lessen the losses; and (4) as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On March 26, 2026, the Court granted Defendants’ Motion to Dismiss the Amended Complaint.
If you wish to discuss this action or have any questions, 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.