BIOGEN INC. (NASDAQ: BIIB) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Biogen Inc. (NASDAQ: BIIB)

<br /> BIOGEN INC. (NASDAQ: BIIB) SHAREHOLDER CLASS ACTION ALERT: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Biogen Inc. (NASDAQ: BIIB)<br />

PR Newswire

NEW YORK

,

March 23, 2022

/PRNewswire/ — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired Biogen Inc. (“Biogen” or the “Company”) (NASDAQ: BIIB) common stock between

June 7, 2021

and

January 11, 2022

, inclusive

(the “Class Period”). The lawsuit was filed in

the United States

District Court for the District of

Massachusetts

and alleges violations of the Securities Exchange Act of 1934.

If you

purchased Biogen securities, and/or would like to discuss your legal rights and options

please visit

Biogen Inc. Shareholder Class Action Lawsuit

or contact

Joe Seidman

toll free at

(877) 779-1414

or

[email protected]

.

Biogen is a multinational biotechnology company well-known for proprietary treatments for Multiple Sclerosis (MS) and other chronic conditions. In

March 2019

, Biogen announced it was abandoning Aduhelm, its potential blockbuster drug for treating Alzheimer’s disease.

The complaint alleges that, contrary to this decision, a group of Biogen executives began to meet with the FDA’s Director of the Office of Neuroscience in an effort to gain FDA approval for Aduhelm. Six months after announcing it was abandoning Aduhelm as futile and that the drug failed to show any clinical benefit, Biogen announced it was submitting the drug for FDA approval, portraying the same supporting data as demonstrating the drug as safe and effective. Aduhelm was approved through the FDA’s Accelerated Approval process for the treatment of Alzheimer’s on

June 7, 2021

. Shares of Biogen stock skyrocketed by over

$100

per share on

June 7, 2021

.

However, over the next six months, investors learned that Aduhelm would not be the blockbuster drug to conquer Alzheimer’s or replace Biogen’s MS drug line-up because the drug was dangerous and ineffective, hospital networks refused to prescribe it, and major insurance companies refused to pay for it, as the lawsuit alleges. Members of the FDA advisory panel resigned in protest over Aduhelm’s approval, and Congress demanded to know how the drug had been approved. By

October 2021

, Aduhelm was not selling well, and in December other global regulators had denied its approval.

Following the publication of a draft opinion by the Center for Medicare and Medicaid Services on

January 11, 2022

, Biogen’s stock price fell to

$225

per share, more than 40% lower than where shares had traded on

June 7, 2021

following the FDA approval announcement.

If you wish to serve as lead plaintiff, you must move the Court no later than

April 8, 2022

. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.

If you

purchased BIIB securities, and/or would like to discuss your legal rights and options

please visit

https://www.bernlieb.com/cases/biogeninc-biib-shareholder-lawsuit-class-action-fraud-stock-481/

or contact

Joe Seidman

toll free at

(877) 779-1414

or

[email protected]

.

Since 1993, Bernstein Liebhard LLP has recovered over

$3.5 billion

for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.

ATTORNEY ADVERTISING. © 2022 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street,

New York, New York

10016, (212) 779-1414. The lawyer responsible for this advertisement in the

State of Connecticut

is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Contact Information:

Joe Seidman

Bernstein Liebhard LLP

https://www.bernlieb.com

(877) 779-1414

[email protected]