Regeneron Pharmaceuticals, Inc.
Case Overview
Status: | Status: Investigating |
Company Name: | Company Name: Regeneron Pharmaceuticals, Inc. |
Ticker: | Ticker: REGN |
Related Attorneys: | Lead Attorneys: Thomas W. Elrod |
Related Practices: | Related Practices: Securities |
The law firm of Kirby McInerney LLP is investigating potential claims against Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”) (NASDAQ: REGN). The investigation concerns whether Regeneron and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
On April 10, 2024, the U.S. Department of Justice (“DOJ”) issued a press release announcing its complaint filed 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, the price of Regeneron shares declined by $31.50 per share, or approximately 3.36%, over two consecutive trading days to close at $904.70 on April 12, 2024.
On April 10, 2024, the U.S. Department of Justice (“DOJ”) issued a press release announcing its complaint filed 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, the price of Regeneron shares declined by $31.50 per share, or approximately 3.36%, over two consecutive trading days to close at $904.70 on April 12, 2024.