ROSEN, A LEADING AND LONGSTANDING FIRM, Announces Investigation of Securities Claims Against Biogen Inc. - BIIB
Rosen Law Firm announces an investigation into Biogen Inc. (NASDAQ: BIIB) for potential misleading business information that may have harmed investors. Following a halted trading on November 6, 2020, news emerged that an FDA panel did not support Biogen's Alzheimer's drug, resulting in a significant stock price drop of 28%, closing at $236.26 on November 9, 2020. The firm is preparing a securities lawsuit on behalf of affected shareholders.
- Potential for legal action could lead to a shareholder recovery if claims are validated.
- Stock dropped 28% to $236.26 following FDA panel's lack of backing for Biogen's Alzheimer's drug.
- FDA panel indicated insufficient evidence to support drug's effectiveness, raising concerns over future sales and market position.
NEW YORK, Nov. 12, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Biogen Inc. (NASDAQ: BIIB) resulting from allegations that Biogen may have issued materially misleading business information to the investing public.
On November 6, 2020, Biogen trading was halted before the Company's meeting with the U.S. Food and Drug Administration ("FDA").
Later that day, Bloomberg published an article entitled "Biogen Alzheimer's Drug Fails to Gain FDA Panel's Backing" which stated that "The outside experts voted 8 to 1, with 2 undecided, that data from a single clinical trial with positive results was insufficient to show Biogen's drug works[,]" and "also voted 10 to 0, with 1 undecided, that the positive study shouldn't be considered primary proof the drug works in light of conflicting evidence from a different trial."
On this news, Biogen's stock price fell
Rosen Law Firm is preparing a securities lawsuit on behalf of Biogen shareholders. If you purchased securities of Biogen please visit the firm's website at http://www.rosenlegal.com/cases-register-1981.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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SOURCE Rosen Law Firm, P.A.
FAQ
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