Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS AGAINST OFFICERS AND DIRECTORS OF BIOVIE INC. (NASDAQ :BIVI)

BioVie Inc. is a clinical stage biopharmaceutical company that purports to engage in the discovery, development, and commercialization of innovative drugs therapies, including for treatment of neurological and neurodegenerative disorders and advanced liver disease.

On August 5, 2021, BioVie announced in a Form 8-K filed with the SEC the enrollment of the first patient in its Phase 3 study of NE3107 in Alzheimer’s Disease.

An underlying securities fraud class action complaint has survived a motion to dismiss. According to that complaint, BioVie Inc. (NASDAQ: BIVI), through certain of its officers, made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges that Defendants misled investors by failing to disclose that (1) BioVie was not conducting proper oversight of its Phase 3 clinical trial; (2) that the COVID-19 pandemic significantly and negatively impacted the Company’s ability to adequately conduct proper oversight of the Phase 3 clinical trial; (3) that due to lack of proper oversight and reliance on contract research organizations, the data from Defendants’ Phase 3 clinical trial faced a greater risk of being unreliable and that the majority of patients would have to be excluded from the clinical trial; (4) that, as a result of the significant exclusions from the trial results, the Phase 3 clinical trial would fail to meet its primary endpoints; and (5) statements about BioVie’s business, operations, prospects, and compliance with current good clinical practices were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.

On March 27, 2025, the Court issued an Order denying Defendants' Motion to Dismiss. In so doing, the Court noted that “that a compelling inference that Individual Defendants acted with minimum deliberate recklessness is at least as strong as an opposing inference of good faith.”

If you purchased BioVie (NASDAQ: BIVI) prior to December 7, 2022 and still hold shares today, you are encouraged to contact Joshua Grabar at [email protected], or call 267-507-6085.  You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.

 

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