Class Action Lawsuit Filed Against Regeneron Pharmaceuticals
Pomerantz Law Firm Targets Regeneron Pharmaceuticals with Class Action
Pomerantz LLP has initiated a class action lawsuit against Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN). The suit has raised concerns regarding the alleged actions of Regeneron and certain executives in connection with possible securities fraud and questionable business practices.
Key Issues in the Class Action
This class action revolves around accusations that Regeneron and its management may have engaged in illegal activities related to securities. Investors who bought or acquired shares of Regeneron during the relevant time period are particularly advised to pay close attention to the developments of this case.
Important Deadlines for Investors
Investors are reminded that they have until March 10, 2025, to apply for appointment as Lead Plaintiff. This is particularly significant for those who made investment decisions involving Regeneron securities within the class period defined by the lawsuit.
Allegations and the Impact on Regeneron’s Stock
The allegations against Regeneron include failing to disclose substantial discounts offered to drug distributors, which were linked to reimbursed credit card fees. As a result, the Average Sales Price (ASP) for products like Eylea was purportedly inflated, subsequently increasing Medicare reimbursements.
Investors reacted to these revelations as Regeneron’s stock price experienced a noticeable decline, dropping $31.50 per share within two trading sessions of the DOJ's announcement. The company’s stock closed at $904.70 following this news, reflecting a 3.36% drop.
Recent Financial Results and Market Reactions
In its financial disclosures, Regeneron revealed disappointing results for its Eylea products during the third quarter of 2024. The reports indicated only a 3% increase in sales compared to numbers from the previous year, causing another shockwave across the investor community.
The company's reported sales of Eylea HD fell short of market expectations, significantly impacting investor sentiment and prompting a significant drop in share price. Following the announcement, Regeneron's stock fell by $84.59 per share, totaling a 9.2% decline, closing at $838.20.
The Role of Pomerantz LLP in Securities Litigation
Pomerantz LLP, which has a rich history, is recognized for its expertise in class action litigation. Established over 85 years ago, the firm has been pivotal in defending the rights of investors affected by securities fraud and corporate misconduct. They have successfully secured multimillion-dollar settlements on behalf of class members in numerous cases.
They continue to uphold the legacy of their founder, Abraham L. Pomerantz, who was a trailblazer in the field of securities class actions. Pomerantz's commitment remains firm: protecting investors and seeking justice for those harmed by corporate wrongdoing.
Firm Contact Information
For those interested in the ongoing class action against Regeneron, they can reach out to Danielle Peyton at Pomerantz LLP for further information. Investors are encouraged to provide their details including mailing address and phone number in their inquiries.
Frequently Asked Questions
What is the nature of the class action against Regeneron?
The class action addresses potential securities fraud committed by Regeneron and its executives, focusing on undisclosed financial practices.
Who can become a Lead Plaintiff?
Any investors who purchased Regeneron securities during the identified class period are eligible to apply for the Lead Plaintiff position.
What led to the decline in Regeneron's stock price?
Regeneron's stock price dropped significantly due to allegations of inflated drug prices and disappointing sales reports.
How long do investors have to join the class action?
Investors have until March 10, 2025, to join the class action and express their interest in becoming Lead Plaintiff.
What does Pomerantz LLP offer to investors?
Pomerantz LLP provides legal representation for investors affected by securities fraud and has a track record of successful outcomes in complex litigation.
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