It is alleged within the complaint that Biogen made misleading and false statements to the public throughout the Class Period and failed to disclose material adverse facts about Biogen’s business, operational, and compliance policies. Specifically, Biogen made misleading and/or false statements concerning: (1) Study 302, viewed independently, did not provide convincing evidence in support of the effectiveness of aducanumab; (2) Study 103 did not provide convincing evidence of the effectiveness of aducanumab; (3) Study 302 could not be considered as primary evidence of aducanumab’s effectiveness for the treatment of Alzheimer’s disease in light of the results of the exploratory analyses of Study 301 and 302, and the results of Study 103; (4) the totality of the data did not provide sufficient evidence to support aducanumab’s efficacy for the treatment of Alzheimer’s disease; and (5) Biogen’s statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times as a result.
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