NEW YORK, July 22, 2020 /PRNewswire/ —
WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Regeneron Pharmaceuticals, Inc. («Regeneron» or the «Company») (NASDAQ: REGN).
If you are a Regeneron shareholder and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws by the Regeneron Board of Directors. Specifically, on June 24, 2020, the U.S. Attorney’s Office filed a complaint against the Company for alleged violations of the False Claims Act. The complaint alleged that the Company engaged in a sophisticated kickback scheme through which it funneled tens of millions of dollars from a foundation with the goal of covering the co-pay costs of Medicare patients of the Company’s Eylea drug. According to the U.S. Attorney’s Office, the scheme undermined the medical system and wasted taxpayers’ monies by causing Medicare to pay out nearly $2 billion for access to the drug.
WeissLaw is investigating whether Regeneron’s Board breached its fiduciary duties to the Company and its shareholders by failing to implement and maintain an effective system of internal controls over its operations.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP