NEW ORLEANS, Jan. 14, 2022 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into BioMarin Pharmaceutical Inc. (NasdaqGS: BMRN).
On August 19, 2020, the Company disclosed that it received a Complete Response Letter ("CRL") from the FDA rejecting its Biologics License Application ("BLA") for its product, valoctocogene roxaparvovec, and recommending two years of data from the Company's ongoing 270-301 study (Phase 3) and that the Company "complete the Phase 3 Study and submit two-year follow-up safety and efficacy data on all study participants," thus requiring a lengthier study before approval would be considered.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing. Recently, the court in that case denied the Company's motion to dismiss in part, allowing the case to move forward.
KSF's investigation is focusing on whether BioMarin's officers and/or directors breached their fiduciary duties to BioMarin's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of BioMarin shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-bmrn/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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