Company: BIVIW
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001520138-25-000343
Chunk: 104

Company: BIOVIE INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part II, Item 1
Chunk 104
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To our knowledge, other than described below,
neither the Company nor any of its officers or directors is a party to any material legal proceeding or litigation and such persons know
of no material legal proceeding or contemplated or threatened litigation, other than as described below. There are no judgments against
us or our officers or directors. None of our officers or directors has been convicted of a felony or misdemeanor relating to securities
or performance in corporate office.

On January 19, 2024, a purported securities class
action complaint, captioned Eric Olmstead v. BioVie Inc. et al., No. 3:24-cv-00035, was filed in the U.S. District Court for
the District of Nevada, naming the Company and certain of its officers as defendants. On February 22, 2024, a second, related putative
securities class action was filed in the same court asserting similar claims against the same defendants, captioned Way v. BioVie Inc.
et al., No. 2:24-cv-00361. On April 15, 2024, the court consolidated these two actions under the caption In re BioVie Inc. Securities
Litigation, No. 3:24-cv-00035, appointed the lead plaintiff, and approved selection of the lead counsel. On June 21, 2024, the lead
plaintiff filed an amended complaint, alleging that the defendants made material misrepresentations and/or omissions of material fact
relating to the Company’s business, operations, compliance, and prospects, including information related to the NM101 Phase 3 study
and trial of bezisterim (NE3107) in mild to moderate probable AD, in violation of Sections
10(b) and 20(a) of the  Exchange Act, and Rule 10b-5 promulgated thereunder. The class action is on behalf of purchasers
of the Company’s securities during the period from December 7, 2022 through November 28, 2023, and seeks unspecified monetary damages
on behalf of the putative class and an award of costs and expenses, including attorney’s fees. The defendants filed a motion to
dismiss the amended complaint on August 21, 2024, and that motion was fully briefed as of December 5, 2024. On March 27, 2025, the court
denied the defendants’ motion to dismiss, and the parties