Lost Money on Madrigal Pharmaceuticals, Inc. Shares? The Law Offices of Frank R. Cruz Investigates Potential Securities Fraud After 8.1% Stock Decline

Investigation centers on the November 3, 2026 news about Madrigal Pharmaceuticals, Inc.; investors with losses may have potential claims to recover them

LOS ANGELES--(BUSINESS WIRE)--Madrigal Pharmaceuticals, Inc. ("Madrigal" or the "Company") investors who lost money may have claims to recover their losses. The Law Offices of Frank R. Cruz today announced it is investigating potential securities fraud claims on behalf of investors in Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL), examining whether the Company may have violated the federal securities laws. The investigation centers on the disclosure about Madrigal Pharmaceuticals, Inc. on November 3, 2026.

If you lost money on Madrigal Pharmaceuticals, Inc. securities, share your Madrigal Pharmaceuticals, Inc. loss information with the firm to learn about potentially pursuing a claim to recover your losses.

Madrigal Pharmaceuticals, Inc. investigation at a glance

• Date of disclosure: November 3, 2026
• Share price decline: $34.84 per share, or 8.1%
• Closing price: $396.32 on November 3, 2026

What happened?

On November 3, 2026, Madrigal disclosed in its quarterly report on Form 10-Q that, on October 9, 2026, the Company’s former Senior Vice President, Head of Clinical Development Dr. Michael Charlton filed a Whistleblower complaint against the Company. The complaint states that, “Over the course of roughly eight months, Dr. Charlton repeatedly reported to Madrigal’s most senior executives, including directly to Chief Executive Officer Bill Sibold, and Chief Medical Officer David Soergel, that Madrigal was suppressing adverse liver-injury data, presenting efficacy results that could not be reconciled with their own source data, and allowing an unblinded Board member, former Chief Medical Officer and major shareholder to control the adjudication of clinical outcomes.”

On this news, Madrigal shares fell $34.84 or 8.1%, to close at $396.32 on November 3, 2026, thereby injuring investors.

"Madrigal Pharmaceuticals, Inc. shares dropped 8.1% after it was disclosed on November 3, 2026 that Madrigal disclosed in its Form 10-Q that former Senior Vice President Dr. Michael Charlton had filed a whistleblower complaint on October 9, 2026 alleging the Company suppressed adverse liver-injury data and presented efficacy results that could not be reconciled with source data. Our investigation will look at whether investors had complete and accurate information before that disclosure," said Frank R. Cruz of The Law Offices of Frank R. Cruz.

What should Madrigal Pharmaceuticals, Inc. investors do now?

The Law Offices of Frank R. Cruz is investigating potential claims on behalf of Madrigal Pharmaceuticals, Inc. investors. Investors who lost money can visit the Madrigal Pharmaceuticals, Inc. investigation page, email [e-mail], or call 310-914-5007.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

Questions and answers about the Madrigal Pharmaceuticals, Inc. investigation

Who is eligible? Investors who purchased Madrigal Pharmaceuticals, Inc. securities and suffered losses may have claims, and can contact the firm to find out whether the Madrigal Pharmaceuticals, Inc. investigation affects them.

What does a securities fraud investigation involve? In the Madrigal Pharmaceuticals, Inc. investigation, The Law Offices of Frank R. Cruz is examining whether the Company or its executives may have made false or misleading statements to investors in violation of the federal securities laws.

Is there a lawsuit? This release announces an investigation by The Law Offices of Frank R. Cruz, not a lawsuit. If a securities class action is later filed against Madrigal Pharmaceuticals, Inc., investors may be able to seek appointment as lead plaintiff.

How are attorneys' fees handled? The Law Offices of Frank R. Cruz works on contingency, so Madrigal Pharmaceuticals, Inc. investors pay no attorneys' fees up front. Any attorneys' fees and litigation expenses come only from a recovery, if there is one, and require court approval.

Information for whistleblowers

Anyone with non-public information about Madrigal Pharmaceuticals, Inc. should consider their options to assist the investigation or participate in the SEC Whistleblower Program. The program allows whistleblowers who provide original information leading to a successful SEC enforcement action to receive awards of 10 to 30 percent of the sanctions collected, when those sanctions exceed $1 million. For more information, contact Frank R. Cruz at 310-914-5007 or email [e-mail].

About The Law Offices of Frank R. Cruz

The Law Offices of Frank R. Cruz investigates and prosecutes securities fraud and corporate malfeasance class actions. With nearly 20 years of litigation experience, the firm focuses on complex securities class actions and gives each client personal, one-on-one attention throughout the legal process.

Prior results do not guarantee a similar outcome.

Related links

• Madrigal Pharmaceuticals, Inc. investigation page, The Law Offices of Frank R. Cruz
• Madrigal Form 10-Q
• Madrigal Pharmaceuticals, Inc. SEC filings index, EDGAR
• SEC Whistleblower Program
• The Law Offices of Frank R. Cruz

Follow The Law Offices of Frank R. Cruz for updates on Twitter: twitter.com/FRC_LAW

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