An investigation on behalf of current long term investors in Biogen Inc. (NASDAQ:BIIB) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 06/10/2022 -- Certain directors of Biogen Inc. are under investigation over possible breaches of fiduciary duties.
Investors who are current long term investors in Biogen Inc. (NASDAQ: BIIB) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: BIIB stocks follows a lawsuit filed against Biogen Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: BIIB stocks, concerns whether certain Biogen Inc. directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants made materially false and/or misleading statements and/or failed to disclose that 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, that the Phase III ENGAGE study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer's patients, that ENGAGE was a failed study from which Biogen concluded not to seek FDA approval for Aduhelm in 2019, and that 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.
Those who purchased shares of Biogen Inc. (NASDAQ: BIIB) have certain options and should contact the Shareholders Foundation.
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