{"id":51391,"date":"2024-07-03T09:36:57","date_gmt":"2024-07-03T09:36:57","guid":{"rendered":"https:\/?p=51391"},"modified":"2024-07-03T09:36:57","modified_gmt":"2024-07-03T09:36:57","slug":"class-action-alert-biogen-faces-lawsuit-over-alzheimers-drug","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/class-action-alert-biogen-faces-lawsuit-over-alzheimers-drug\/","title":{"rendered":"Class Action Alert: Biogen Faces Lawsuit Over Alzheimer&#8217;s Drug"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.stocktargetadvisor.com\/stock\/USA\/NSD\/BIIB\">Biogen Inc. (BIIB: NSD)<\/a> faces a class action lawsuit from shareholders who allege the company misled them regarding its business practices and financial outlook. The lawsuit comes after Biogen revised its earnings guidance downward in late 2023.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>Allegations of Misconduct:<\/h2>\n<p><span style=\"font-weight: 400;\">The lawsuit centers on claims that Biogen made false or misleading statements about its:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Compliance controls:<\/b><span style=\"font-weight: 400;\"> The lawsuit alleges Biogen overstated the effectiveness of its compliance procedures in foreign countries, potentially exposing the company to legal and financial risks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Alzheimer&#8217;s drug portfolio:<\/b><span style=\"font-weight: 400;\"> Investors allege Biogen inflated the potential of its Alzheimer&#8217;s drugs, including Leqembi, and downplayed the challenges to market access.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Financial guidance:<\/b><span style=\"font-weight: 400;\"> The suit claims Biogen failed to properly disclose the negative impact of the Reata acquisition on its 2023 earnings.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These alleged misstatements, according to the lawsuit, caused investors to purchase Biogen stock at artificially inflated prices, resulting in financial losses when the truth was revealed.<\/span><\/p>\n<p><a href=\"https:\/\/www.stocktargetadvisor.com\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-51393 size-full\" src=\"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2024\/07\/sta-stock-chart-widget-37.png\" alt=\"BIIB chart-widget\" width=\"522\" height=\"666\" srcset=\"https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2024\/07\/sta-stock-chart-widget-37.png 522w, https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2024\/07\/sta-stock-chart-widget-37-235x300.png 235w, https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2024\/07\/sta-stock-chart-widget-37-118x150.png 118w\" sizes=\"(max-width: 522px) 85vw, 522px\" \/><\/a><\/p>\n<h2><strong>Class Period and Lead Plaintiff Deadline:\u00a0<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The lawsuit applies to investors who purchased Biogen stock between February 3, 2022, and February 13, 2024. The deadline to be appointed as the lead plaintiff for the class is July 22, 2024.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Biogen Inc. (BIIB: NSD) faces a class action lawsuit from shareholders who allege the company misled them regarding its business practices and financial outlook. The&#8230;<\/p>\n","protected":false},"author":17,"featured_media":51394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-51391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v21.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Class Action Alert: Biogen Faces Lawsuit Over Alzheimer&#039;s Drug | Stock Target Advisor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stocktargetadvisor.com\/blog\/class-action-alert-biogen-faces-lawsuit-over-alzheimers-drug\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Class Action Alert: Biogen Faces Lawsuit Over Alzheimer&#039;s Drug\" \/>\n<meta property=\"og:description\" content=\"Biogen Inc. 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