Home / Business and Economy / Biogen settles investor lawsuit for $18.9M
Biogen settles investor lawsuit for $18.9M
8 Jun
Summary
- Biogen agreed to a $18.9 million settlement.
- The lawsuit alleged misleading investors about Aduhelm.
- The case originated in the U.S. District Court, Massachusetts.
Biogen Inc. has reached an $18.9 million settlement to conclude a lawsuit. This legal action accused the pharmaceutical company of misleading investors about Aduhelm, its Alzheimer's disease drug. The settlement addresses allegations concerning the drug's commercial readiness at the time of its promotion.
The lawsuit, known as Oklahoma Firefighters Pension and Retirement System v Biogen Inc, was heard in the U.S. District Court for the District of Massachusetts. Legal representatives for both Biogen and the plaintiffs participated in the proceedings, seeking resolution. This agreement resolves a significant dispute regarding investor communications and drug commercialization.
