NEW YORK, July 10, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”) (NASDAQ: REGN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Regeneron and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On April 10, 2024, the U.S. Department of Justice (“DOJ”) issued a press release announcing that it had filed a complaint against Regeneron under the False Claims Act. The lawsuit accuses the Company of failing to report millions of dollars in discounts provided to drug distributors. As a result, the DOJ alleges that the average selling price of Regeneron’s Eylea drug was inflated above the amount allowed by Medicare.
On this news, Regeneron’s stock price fell $31.50 per share, or approximately 3.36%, over two trading sessions, to close at $904.70 on April 12, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP