A class action alleging BioMarin Pharmaceutical Inc. misled investors has survived a motion to dismiss. 

A Federal Court has held that plaintiffs have adequately plead that BioMarin Pharmaceutical Inc. and several of its executives misled investors about the progress of a new hemophilia therapy it was developing. As alleged, the defendants intentionally misrepresented their interactions with the FDA about the drug’s approval process. while BioMarin represented that it was working “closely” and “collaboratively” with the FDA to achieve accelerated approval when, in reality, it allegedly had “no dialogue” with the FDA for the period in question. BioMarin allegedly misled investors by failing to disclose warning signs from the FDA—including cancelling an important inspection of BioMarin’s manufacturing facility—that approval of its therapy would be delayed or denied while claiming to still be “on track.” When the FDA ultimately denied accelerated approval of the therapy, BioMarin’s share price dropped substantially and market participants and analysts were “shocked” due to the defendants’ previous statements.

Contact Us

Please enter your name.
Please enter a valid phone number.
Please enter a message.

Additional Information About the Potential Shareholder Action

Unlike a class action, brought on behalf of damaged investors, a shareholder derivative action is an action brought by a shareholder of a public company on behalf of and for the benefit of the company itself against the directors and/or officers of that company. In a derivative action, shareholders “step into the shoes” of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own.

Current BioMarin shareholders who have held shares of the company’s stock since at least March 3, 2020, can seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate. 

If you would like to learn more about this matter at no cost to you, please fill out the form provided or contact us at or call 267-507-6085. $BMRN

Standard Derivative Form Retainer

Standard Form Derivative Retainer Letter - No Cost
  • Join This Action

  • Alternatively, you may upload your transactions using the upload button below or email them to *

  • Drop files here or
    Max. file size: 100 MB.
    • Signed pursuant to California Civil Code Section 1633.1, et seq. and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.
    • Date of signing: *

    • MM slash DD slash YYYY
    • This field is for validation purposes and should be left unchanged.

    More Information