Bronstein, Gewirtz & Grossman, LLC Investigates Potential Securities Fraud Claims Against Biohaven Ltd.
NEW YORK, NY – In a recent press release, Bronstein, Gewirtz & Grossman, LLC, a leading securities fraud class action law firm, announced that it is investigating potential claims on behalf of purchasers of Biohaven Ltd. (Biohaven or the Company) (NYSE:BHVN) following a report issued by Citron Research alleging potential fraudulent activities by the biopharmaceutical company.
Background on Biohaven Ltd.
Biohaven is a clinical-stage biopharmaceutical company focused on the development and commercialization of innovative therapies for neurological diseases. The Company’s pipeline includes several late-stage clinical programs, including an investigational therapy for the treatment of migraine, ruzasvir for the treatment of progressive multiple sclerosis, and BHV-3500, an intranasal glucocorticoid spray for various indications. Biohaven’s lead product, Nurtec ODT (rimegepant), was approved by the US Food and Drug Administration (FDA) in February 2019 for the acute treatment of migraine.
The Allegations
On February 28, 2025, Citron Research published a report accusing Biohaven of manipulating clinical trial data for Nurtec ODT and overstating its efficacy. Citron claimed that the Company had manipulated data from a pivotal phase 3 trial, Study 302, by excluding adverse event data and underreporting serious adverse events. The report also alleged that Biohaven had engaged in insider trading and had failed to disclose material information regarding the safety of Nurtec ODT.
Investigative Process
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against Biohaven based on these allegations. The law firm is encouraging investors who purchased Biohaven securities between February 28, 2019, and February 28, 2025, to contact the firm. The firm notes that the investigation is at an early stage and that no class has yet been certified in the proposed lawsuit. If a class is certified, the lawsuit may be litigated for years before a resolution is reached.
Impact on Shareholders
The allegations by Citron Research have had a significant impact on Biohaven’s share price. Following the release of the report, the Company’s stock price dropped by over 50% in intraday trading. The Securities and Exchange Commission (SEC) and other regulatory bodies have not yet made any public statements regarding the allegations. However, the potential for securities fraud litigation and regulatory action could lead to further declines in Biohaven’s stock price and potential damages for shareholders.
Impact on the Biopharmaceutical Industry
The allegations against Biohaven could have broader implications for the biopharmaceutical industry as a whole. If the allegations are proven to be true, they could undermine investor confidence in the sector and lead to increased scrutiny of clinical trial data and reporting practices. The incident could also result in increased litigation and regulatory action against other biopharmaceutical companies, potentially leading to increased costs and reduced innovation.
Conclusion
The investigation by Bronstein, Gewirtz & Grossman, LLC into potential securities fraud claims against Biohaven Ltd. comes in the wake of allegations by Citron Research that the Company manipulated clinical trial data for its lead product, Nurtec ODT. The impact of these allegations has been significant, with Biohaven’s stock price dropping by over 50% in intraday trading following the release of the report. The potential for securities fraud litigation and regulatory action could lead to further declines in the Company’s stock price and potential damages for shareholders. Additionally, the allegations could have broader implications for the biopharmaceutical industry, potentially leading to increased scrutiny of clinical trial data and reporting practices and increased litigation and regulatory action against other companies in the sector.
- Bronstein, Gewirtz & Grossman, LLC is investigating potential securities fraud claims against Biohaven Ltd.
- Allegations of manipulated clinical trial data and insider trading
- Significant impact on Biohaven’s stock price
- Potential for securities fraud litigation and regulatory action
- Impact on investor confidence in the biopharmaceutical industry
