What's Happening?
The Schall Law Firm has announced a class action lawsuit against REGENXBIO Inc., alleging violations of the Securities Exchange Act of 1934. The lawsuit claims that REGENXBIO made false and misleading statements regarding its product candidate RGX-111, concealing negative data on its efficacy and safety. An intraventricular CNS tumor was discovered in a participant treated in a RGX-111 study, which contradicted the company's positive statements. Investors who purchased securities between February 9, 2022, and January 27, 2026, are encouraged to contact the firm before April 14, 2026, to discuss their rights.
Why It's Important?
This lawsuit highlights the critical importance of transparency and accuracy in corporate communications, especially in the biotechnology
sector where product efficacy and safety are paramount. The allegations, if proven, could have significant financial implications for REGENXBIO and its investors, potentially affecting stock prices and investor trust. The case underscores the role of shareholder rights litigation in holding companies accountable and protecting investor interests. It also serves as a reminder for companies to maintain rigorous standards in their public disclosures to avoid legal repercussions.
What's Next?
The class action has not yet been certified, meaning investors are not currently represented by an attorney unless they choose to join the lawsuit. The Schall Law Firm is actively seeking investors who suffered losses to participate in the case. As the legal proceedings unfold, REGENXBIO may face increased scrutiny from regulators and investors, potentially impacting its market position and future business operations. The outcome of the lawsuit could set a precedent for similar cases in the biotechnology industry.
