Biogen Inc.

Allegations Against Biogen Inc. (NASDAQ: BIIB)

Johnson Fistel LLP’s investigation seeks to determine whether Biogen’s senior officers or members of its board of directors harmed the company by breaching their fiduciary duties or otherwise violating securities laws in connection with the foregoing alleged conduct.

Recently a class action complaint was filed against the company. The filed complaint alleges that defendants made false statements and/or concealed that: (i) 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; (ii) accordingly, Biogen maintained inadequate compliance controls and procedures in connection with its business operations in foreign countries; (iii) Biogen and/or its employees were engaged in unlawful or otherwise improper conduct in several foreign countries; (iv) the foregoing subjected the Company to a heightened risk of governmental and/or regulatory scrutiny and enforcement action, as well as significant legal, financial, and reputational harm; (v) Biogen overstated the strength of its Alzheimer’s disease related product portfolio, including the its joint efforts and success with pharmaceutical company, Eisai, in launching and providing access to Leqembi; (vi) Biogen also downplayed the negative impact that the Reata Acquisition would have on its FY 2023 non-GAAP diluted EPS; (vii) all the foregoing were likely to have a significant negative impact on Biogen’s 2023 results; and (viii) as a result, the Company’s public statements were materially false and misleading at all relevant times.