Company: BIVIW
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001520138-25-000144
Chunk: 86

Company: BIOVIE INC.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 by this Quarterly Report on Form 10-Q, our Chief Executive Officer and Chief Financial Officer have concluded that, as of
such date, our disclosure controls and procedures were effective at the reasonable assurance level, as appropriate, to allow timely decisions
regarding required disclosure.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over
financial reporting (as defined in Rule 13a-15f and 15d-15(f) under the Exchange Act) that occurred during the three months ended March
31, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings

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.

On January 19, 2024, a purported shareholder 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