Class Action Filed Against Regeneron Pharmaceuticals: A Closer Look at the Allegations
In an important development for investors, Pomerantz LLP has announced the filing of a class action lawsuit against Regeneron Pharmaceuticals, Inc. The firm, known for its expertise in corporate and securities litigation, is seeking to hold Regeneron accountable for alleged securities fraud and other unethical business practices. This lawsuit highlights significant concerns regarding the company's transparency and regulatory compliance.
The class action arises from a series of allegations that Regeneron failed to accurately disclose certain financial practices that may have materially affected its stock value. Investors who purchased Regeneron securities during the class period are encouraged to contact the firm to discuss their potential involvement in this lawsuit. The deadline to participate as a lead plaintiff is March 10, 2025.
The backdrop of this lawsuit involves a critical announcement made by the U.S. Department of Justice on April 10, 2024, which revealed that Regeneron failed to report substantial discounts it provided to drug distributors. Specifically, Regeneron was accused of not disclosing millions of dollars in reimbursed credit card fees, thus inflating the Average Sales Price (ASP) for two of its products, Eylea and Eylea HD. This action allegedly led to misleading Medicare reimbursement rates, giving Regeneron an unfair competitive edge over other treatments. Following this announcement, Regeneron's share price saw a notable decline of $31.50, marking a significant drop of 3.36% within just two trading sessions.
Fast forward to October 31, 2024, when Regeneron reported underwhelming financial results for the third quarter of 2024. The company indicated that sales for Eylea HD increased by only 3% compared to the same period in the previous year, generating just $392 million. This figure fell short of consensus estimates, which projected sales between $415 million and $425 million. Consequently, Regeneron’s stock price plummeted again, this time by $84.59 or 9.2%, closing at $838.20. Such financial disclosures have raised alarms among investors, prompting legal scrutiny that culminated in the current class action lawsuit.
Pomerantz LLP has a long-standing reputation for representing victims of corporate misconduct, including securities fraud. Established over 85 years ago by Abraham L. Pomerantz, the firm pioneers in advocating for the rights of investors. They have recovered substantial damages for clients, demonstrating a commitment to holding corporations accountable for unethical actions.
Investors affected by these revelations are urged to reach out to Pomerantz LLP, noting essential details about their share purchases. This class action represents a pivotal moment for Regeneron’s stakeholders as they navigate the complexities of corporate accountability in the pharmaceutical sector. As further developments unfold, those involved will need to remain informed and proactive in protecting their financial interests amidst ongoing legal proceedings. To find out more about participating in this class action and obtaining a copy of the complaint, stakeholders can visit the Pomerantz law firm website at www.pomerantzlaw.com.
The class action arises from a series of allegations that Regeneron failed to accurately disclose certain financial practices that may have materially affected its stock value. Investors who purchased Regeneron securities during the class period are encouraged to contact the firm to discuss their potential involvement in this lawsuit. The deadline to participate as a lead plaintiff is March 10, 2025.
The backdrop of this lawsuit involves a critical announcement made by the U.S. Department of Justice on April 10, 2024, which revealed that Regeneron failed to report substantial discounts it provided to drug distributors. Specifically, Regeneron was accused of not disclosing millions of dollars in reimbursed credit card fees, thus inflating the Average Sales Price (ASP) for two of its products, Eylea and Eylea HD. This action allegedly led to misleading Medicare reimbursement rates, giving Regeneron an unfair competitive edge over other treatments. Following this announcement, Regeneron's share price saw a notable decline of $31.50, marking a significant drop of 3.36% within just two trading sessions.
Fast forward to October 31, 2024, when Regeneron reported underwhelming financial results for the third quarter of 2024. The company indicated that sales for Eylea HD increased by only 3% compared to the same period in the previous year, generating just $392 million. This figure fell short of consensus estimates, which projected sales between $415 million and $425 million. Consequently, Regeneron’s stock price plummeted again, this time by $84.59 or 9.2%, closing at $838.20. Such financial disclosures have raised alarms among investors, prompting legal scrutiny that culminated in the current class action lawsuit.
Pomerantz LLP has a long-standing reputation for representing victims of corporate misconduct, including securities fraud. Established over 85 years ago by Abraham L. Pomerantz, the firm pioneers in advocating for the rights of investors. They have recovered substantial damages for clients, demonstrating a commitment to holding corporations accountable for unethical actions.
Investors affected by these revelations are urged to reach out to Pomerantz LLP, noting essential details about their share purchases. This class action represents a pivotal moment for Regeneron’s stakeholders as they navigate the complexities of corporate accountability in the pharmaceutical sector. As further developments unfold, those involved will need to remain informed and proactive in protecting their financial interests amidst ongoing legal proceedings. To find out more about participating in this class action and obtaining a copy of the complaint, stakeholders can visit the Pomerantz law firm website at www.pomerantzlaw.com.
Topics Financial Services & Investing）
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