#USA #San Diego #Class Action #Regeneron Pharmaceuticals #Eylea

Regeneron Pharmaceuticals Class Action Lawsuit Alert

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), a prominent player in the biotechnology industry, is currently under fire due to a class action lawsuit that presents a significant opportunity for investors who have suffered substantial losses. The law firm Robbins Geller Rudman & Dowd LLP has opened its doors for investors who purchased Regeneron securities from November 2, 2023, to October 30, 2024, to take decisive action by seeking appointment as lead plaintiffs in this lawsuit. The deadline for these investors to come forward is March 10, 2025.

Allegations Against Regeneron

The class action lawsuit, known as Radtke v. Regeneron Pharmaceuticals, Inc., alleges that Regeneron and several executives engaged in misleading practices violating the Securities Exchange Act of 1934. One cornerstone of the case revolves around the company's flagship product, Eylea, used to treat various eye-related ailments.

Among the serious allegations are claims that Regeneron made false statements and failed to disclose key financial practices, particularly concerning payments made to credit card distributors. According to the lawsuit:

• - Regeneron reportedly paid credit card fees to distributors on the premise that they wouldn't increase costs for customers using credit cards to purchase Eylea.
• - This arrangement resulted in a hidden subsidy which contributed to inflated sales figures for Eylea.
• - Due to these undisclosed payments, Regeneron is accused of overstating its reported Average Sales Price (ASP) to government agencies, leading to inflated Medicare reimbursements, which are legally questionable under the False Claims Act.

Major Turning Points in the Lawsuit

On April 10, 2024, the situation escalated when the U.S. Department of Justice announced it had filed a complaint against Regeneron for failing to report significant discounts associated with reimbursed credit card fees. This allegation underscored the argument that the ASP for Eylea was artificially inflated, adversely affecting regulatory compliance.

Further compounding the company's troubles, on October 31, 2024, Regeneron disclosed its financial results for the third quarter of 2024, which shocked investors. The report unveiled only a moderate 3% increase in Eylea sales compared to the previous year, and quarterly sales numbers fell short of market expectations. In the wake of this announcement, Regeneron’s stock saw a sharp decline, falling over 9% as investors reacted to the disappointing sales performance, alongside the allegations swirling around the lawsuit.

The Role of Lead Plaintiffs

The Private Securities Litigation Reform Act of 1995 permits any investor who has acquired Regeneron securities during the class period to step forward as a lead plaintiff in this ongoing litigation. By acting as the lead plaintiff, an investor can help steer the course of the lawsuit, and they may choose their legal representation.

It's crucial to note that serving as a lead plaintiff does not limit an investor's potential recovery; all investors in the class will share in any eventual settlement or judgment regardless of their role in the lawsuit.

About Robbins Geller Rudman & Dowd LLP

With a robust track record in securities fraud litigation, Robbins Geller Rudman & Dowd LLP has been one of the leading law firms advocating for investors. The firm has a history of securing substantial financial recoveries for investors in various class action lawsuits, making it a formidable ally for investors looking to reclaim their losses. They boast numerous successful recoveries, including the largest in history totaling $7.2 billion from the Enron litigation.

If you believe you qualify to serve as lead plaintiff or want more information on how to join the class action, reach out to Robbins Geller at 800-449-4900 or visit their official website.

In these turbulent times for investors in Regeneron Pharmaceuticals, taking prompt and informed action could be pivotal in recovering losses and seeking justice amidst the allegations of misleading financial practices.