Company: BIVIW
Filing Date: 2025-07-22
Form Type: S-1/A
Source: 0001520138-25-000216
Chunk: 23

Company: BIOVIE INC.
Filing Date: 2025-07-22
Form: S-1/A
Chunk 23
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 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 Alzheimer’s Disease, 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, allowing the case to move into fact discovery The defendants believe that the claims are without merit and intend to
defend vigorously against them, but there can be no assurances as to the outcome.

It is possible that additional lawsuits will be
filed, or allegations received from stockholders, with respect to these same or other matters and also naming us and/or our officers and
directors as defendants. Such lawsuits and any other related lawsuits are subject to inherent uncertainties, and the actual defense and
disposition costs will depend upon many unknown factors. The outcome of such lawsuits is necessarily uncertain. We could be forced to
expend significant resources in the defense of the pending lawsuit and any additional lawsuits, and we may not prevail. In addition, we
may incur substantial legal fees and costs in connection with such lawsuits. We currently are not able to estimate the