Biogen Faces Investor Class Action Over Alleged False Remarks

A proposed class of Biogen Inc. investors allege the biotechnology company violated federal securities law when it made various false and misleading statements about its financial health, according to a new lawsuit filed in a Colorado federal court.

The lawsuit adds to a number of other legal actions against Biogen, which have accused the company and its board of directors of misleading investors about the efficiency of its costly Alzheimer’s drug, Aduhelm. Biogen announced it would stop selling and studying the drug in January, resulting in a $60 million 4th-quarter charge to close the program.

Separately, in 2022, Biogen agreed ...