Biogen Inc.

According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:

(i) in discussing the two Phase III studies, Biogen omitted to disclose that one of the studies was deemed a failure, and that the justification for approval came by disregarding that study;

(ii) the danger to patients was a key factor in both the Advisory Panel recommending against and later international regulators outright denying approval of Aduhelm;

(iii) entities had not committed to paying for Aduhelm treatment at any price given its questionable efficacy and safety issues, let alone at $56,000 per year;

(iv) Medicare coverage was a certainty when, in fact, it was not;

(v) the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious . . . (see complaint for detailed allegations).