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Eiger BioPharmaceuticals, Inc. Class Action Lawsuit - EIGR

34 days left to seek lead plaintiff status

Case Summary

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The Eiger BioPharmaceuticals class action lawsuit seeks to represent purchasers or acquirers of Eiger BioPharmaceuticals, Inc. (NASDAQ: EIGR) securities between March 10, 2021 and October 4, 2022, inclusive (the “Class Period”).  Captioned Schoen v. Eiger BioPharmaceuticals, Inc., No. 22-cv-06985 (N.D. Cal.), the Eiger BioPharmaceuticals class action lawsuit charges Eiger BioPharmaceuticals and certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Eiger BioPharmaceuticals class action lawsuit, please provide your information in the form on this page.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Eiger BioPharmaceuticals class action lawsuit must be filed with the court no later than January 9, 2023.

CASE ALLEGATIONS: Eiger BioPharmaceuticals’ product candidates include, among others, peginterferon lambda.  In March 2022, based on the results of the TOGETHER study, Eiger BioPharmaceuticals announced that it would submit an Emergency Use Authorization (“EUA”) request to the U.S. Food and Drug Administration (“FDA”) for peginterferon lambda for the treatment of patients with mild-to-moderate COVID-19.

The Eiger BioPharmaceuticals class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) defendants overstated Eiger BioPharmaceuticals’ clinical and regulatory drug development expertise; (ii) defendants failed to properly assess, and/or ignored issues with, the design of the TOGETHER study and its ability to support the peginterferon lambda EUA; (iii) there were issues with the conduct of the TOGETHER study and/or the TOGETHER study was not properly designed for the peginterferon lambda EUA in the current context of the pandemic; (iv) as a result, the FDA was unlikely to approve the submission of a peginterferon lambda EUA; and (v) consequently, peginterferon lambda’s regulatory and commercial prospects for the treatment of COVID-19 were overstated.

On September 6, 2022, Eiger BioPharmaceuticals announced that “[f]ollowing a cooperative and extensive pre-EUA information exchange with [the] FDA regarding the Phase 3 TOGETHER study of peginterferon lambda for COVID-19, the agency has indicated that it is not yet able to determine whether the criteria for the submission of an application and issuance of an EUA are likely to be met.”  On this news, Eiger BioPharmaceuticals’ stock price fell by more than 29%.

Then, on October 5, 2022, Eiger BioPharmaceuticals announced that it would not seek an EUA request for peginterferon lambda after the FDA had “denied the request for a pre-EUA meeting.”  Specifically, Eiger BioPharmaceuticals disclosed that, “[c]iting its concerns about the conduct of the TOGETHER study, [the] FDA concluded that any authorization request based on the[] data [presented] is unlikely to meet the statutory criteria for issuance of an EUA in the current context of the pandemic.”  On this news, Eiger BioPharmaceuticals’ stock price fell an additional 5%, further damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Eiger BioPharmaceuticals securities during the Class Period to seek appointment as lead plaintiff in the Eiger BioPharmaceuticals class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Eiger BioPharmaceuticals class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Eiger BioPharmaceuticals class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Eiger BioPharmaceuticals class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

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