Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into BioMarin Pharmaceutical Inc. (NasdaqGS: BMRN).
On August 19, 2020, the Company disclosed that it received a Complete Response Letter (“CRL”) from the FDA rejecting its Biologics License Application (“BLA”) for its product, valoctocogene roxaparvovec, and recommending two years of data from the Company’s ongoing 270-301 study (Phase 3) and that the Company “complete the Phase 3 Study and submit two-year follow-up safety and efficacy data on all study participants,” thus requiring a lengthier study before approval would be considered.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether BioMarin’s officers and/or directors breached their fiduciary duties to BioMarin’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.