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Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, March 04, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises BioVie Inc. (“BioVie” or the “Company”) (NASDAQ: BIVI) investors that a lawsuit was filed on behalf of investors that purchased BioVie securities between August 5, 2021 through November 29, 2023, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
BioVie, a clinical-stage biopharmaceutical company, focuses on developing drug therapies for neurological, neurodegenerative, and advanced liver diseases. The company acquired assets from NeurMedix and Acuitas, including NE3107, aimed at treating Alzheimer's and Parkinson's diseases. However, the complaint alleges that during the Class Period, BioVie made false and misleading statements about its operations and prospects. These included underestimating the impact of COVID-19 on clinical trials, protocol deviations, and non-compliance with Good Clinical Practice (GCP), leading to suspect data and significant non-compliance issues at trial sites.
The company admitted to potential scientific misconduct and GCP non-compliance in its 1Q 2023 report, significantly affecting stock prices. Following the disclosure of these issues, BioVie's stock price plummeted, resulting in significant investor losses. The complaint highlights the company's failure to provide accurate information regarding its clinical trials and compliance, impacting its stock market valuation and investor trust.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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