Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) Securities Investigation

november 4, 2026

STATUS: investigation
STOCK DROP: november 3, 2026

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Principal Contacts

Jeff Campisi

Jeffrey P. Campisi

JCampisi@kaplanfox.com

Laurence D. King

LKing@kaplanfox.com

About the Madrigal Pharmaceuticals investigation

Kaplan Fox & Kilsheimer LLP is investigating potential securities law violations by Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL). The investigation follows the decline in the price of Madrigal stock on November 3, 2026.

If you invested in Madrigal and suffered losses, or if you have information that could assist the investigation, contact Kaplan Fox using the form on this page, by emailing jcampisi@kaplanfox.com, or by calling (212) 329-8571.

What prompted the investigation

On November 3, 2026, before the market opened, Madrigal filed its Form 10-Q with the Securities and Exchange Commission. The Company revealed that “[o]n October 9, 2026, a former employee filed a complaint against the Company in the United States District Court for the Northern District of Illinois, Charlton v. Madrigal Pharmaceuticals, Inc. (the ‘Complaint’), alleging retaliation under the whistleblower-protection provisions of the Sarbanes-Oxley Act of 2002, 18 U.S.C. § 1514A.” Madrigal stated that “[t]he Complaint alleges that the plaintiff raised internal concerns about certain Company data and reporting practices prior to their resignation in January 2026 and seeks monetary damages and other relief. The Company disputes the allegations in the Complaint and plans to vigorously defend itself.”

Following this news, the price of Madrigal stock declined from a closing price on November 2, 2026 of $431.16 per share to close at $396.32 per share on November 3, 2026, a decline of $34.84 per share, or 8.08%.

Who should contact Kaplan Fox

If you purchased or otherwise acquired Madrigal securities and suffered losses, you may contact Kaplan Fox to discuss the investigation. Anyone with information that could assist the investigation may also contact the firm.

Investigation updates

  • November 4, 2026: Kaplan Fox announced its investigation of potential securities law violations by Madrigal.

Frequently asked questions

Is this a class action lawsuit?

No. Kaplan Fox is investigating potential securities law violations by Madrigal. An investigation is not a lawsuit.

What happens if a class action is filed?

When a securities class action is filed, a notice is published, and investors have 60 days from that notice to ask the court to appoint them lead plaintiff. You need not seek to become a lead plaintiff in order to share in any possible recovery.

WHY CONTACT KAPLAN FOX?

Kaplan Fox & Kilsheimer LLP is a nationally recognized law firm focused on complex litigation, with offices in New York, Oakland, Los Angeles, Chicago, and New Jersey. Founded in 1956, the firm has spent more than 50 years prosecuting securities, antitrust, and consumer protection actions in federal and state courts nationwide, recovering more than $10 billion for clients and the classes it has represented.

Kaplan Fox is widely regarded as one of the nation’s premier plaintiffs’ securities litigation firms and has received recognition from Chambers and Partners, Benchmark Litigation, Super Lawyers, and Lawdragon. Serving as lead or co-lead counsel in many landmark cases, the firm has secured some of the largest recoveries in the history of securities litigation, including a $2.425 billion recovery on behalf of Bank of America shareholders in In re Bank of America—the largest recovery ever obtained for claims under Section 14(a) of the Securities Exchange Act—$800 million recovered for the Arkansas Teacher Retirement System and other pension funds in ATRS v. Allianz Global Investors, and a $475 million settlement in In re Merrill Lynch.

For decades, Kaplan Fox has represented public pension funds, institutional investors, businesses, and individuals in high-stakes litigation. Through its successful advocacy and precedent-setting victories, the firm has helped shape important areas of securities and corporate law while advancing accountability and protecting investor interests.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Past results do not guarantee future outcomes.

If you have any questions about this investigation, please contact:

CONTACT:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
jcampisi@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1501
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com

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