Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 217

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 217
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 at a maximum
of $200,000 per year.

Shareholder class action complaint and shareholder derivative complaints

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 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.

On December 30, 2024, a shareholder derivative lawsuit was filed in
the United States District Court for the District of Nevada by putative stockholder Andrew Hulm, allegedly on behalf of the Company, that
piggy-backs on the securities class action also pending in that court. The derivative complaint names certain current and former officers
and directors