CONTINUED INVESTIGATION ALERT: Scott+Scott Attorneys at Law LLP Investigates Biogen Inc.'s Directors and Officers for Breach of Fiduciary Duties – BIIB

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Nov 28, 2022
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NEW YORK, Nov. 28, 2022 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues its investigation as to whether certain directors and officers of Biogen Inc. (“Biogen”) ( BIIB) breached their fiduciary duties to Biogen and its shareholders. If you are a Biogen shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or [email protected].

Scott+Scott is investigating whether members of the Biogen Board of Directors (the “Board”) made, or caused Biogen to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Biogen’s business, operations, prospects, and financial health. Specifically, Scott+Scott is investigating whether the Board failed to disclose material information, including whether Everbridge misled investors regarding: (a) the number of sites ready, willing, and able to administer Aduhelm immediately after approval; (b) the significance of logistical constraints on diagnosing patients; (c) the degree to which Medicare’s coverage of the treatment was independent of the FDA’s approval of the treatment; (d) the willingness of third-party payors to cover Aduhelm at a premium price point, or, indeed, at any price point absent peer-reviewed data supporting a determination of the treatment’s clinical effectiveness; and (e) the Veterans Health Administration’s willingness and capacity to cover and administer Aduhelm for its beneficiaries; and whether, as a result, statements about Everbridge’s business, operations, and prospects lacked a reasonable basis.

On January 11, 2022, the Center for Medicare and Medicaid Services released a draft opinion, stating it would only pay for Aduhelm for patients in a hospital-sponsored clinical trial. On this news, Biogen’s common stock price fell to close at $225 per share on January 12, 2022.

What You Can Do

If you are a Biogen shareholder, you may have legal claims against Biogen’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or [email protected].

About Scott+Scott Attorneys at Law LLP

Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.

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Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
[email protected]

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