Did You Lose Money on Madrigal Pharmaceuticals, Inc. Stock? The Law Offices of Howard G. Smith Announces Securities Fraud Investigation After 8.1% Share Price Decline

Investigation comes after a November 3, 2026 report concerning Madrigal Pharmaceuticals, Inc.; shareholders who suffered losses may have claims to recover them

BENSALEM, Pa.--(BUSINESS WIRE)--Investors who suffered losses on Madrigal Pharmaceuticals, Inc. ("Madrigal" or the "Company") stock may have claims to recover those losses. The Law Offices of Howard G. Smith today reported that it is conducting a securities fraud investigation on behalf of Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL) investors into whether the Company may have violated the federal securities laws. The investigation comes after a November 3, 2026 disclosure concerning Madrigal Pharmaceuticals, Inc.

Investors with losses on Madrigal Pharmaceuticals, Inc. securities can contact The Law Offices of Howard G. Smith about the Madrigal Pharmaceuticals, Inc. investigation to learn about potentially pursuing claims to recover their losses.

Key facts for Madrigal Pharmaceuticals, Inc. investors

• Disclosure: November 3, 2026
• Stock drop: $34.84 per share, or 8.1%
• Close after the drop: $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.

"On November 3, 2026, it was reported 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, and Madrigal Pharmaceuticals, Inc. stock lost 8.1% of its value. Our investigation is focused on whether shareholders had the full story before that report," said Howard G. Smith of The Law Offices of Howard G. Smith.

Next steps for Madrigal Pharmaceuticals, Inc. investors

The Law Offices of Howard G. Smith is examining potential claims on behalf of Madrigal Pharmaceuticals, Inc. investors. Investors with losses can visit the firm's website, email [e-mail], or call [phone] to discuss the Madrigal Pharmaceuticals, Inc. investigation.

Common questions from Madrigal Pharmaceuticals, Inc. investors

Who is eligible? Madrigal Pharmaceuticals, Inc. investors who bought securities and lost money may have claims, and can reach out to the firm to learn whether the Madrigal Pharmaceuticals, Inc. investigation affects them.

What is a securities fraud investigation? Through the Madrigal Pharmaceuticals, Inc. investigation, The Law Offices of Howard G. Smith is reviewing whether the Company or its officers may have made false or misleading statements to investors in violation of the federal securities laws.

Has a lawsuit been filed? This release announces an investigation of Madrigal Pharmaceuticals, Inc. by The Law Offices of Howard G. Smith, not a lawsuit. If a securities class action is later filed, Madrigal Pharmaceuticals, Inc. investors may be able to seek appointment as lead plaintiff.

Does it cost anything? The Law Offices of Howard G. Smith works on contingency, meaning Madrigal Pharmaceuticals, Inc. investors owe no attorneys' fees out of pocket. Any attorneys' fees and litigation expenses are paid solely from a recovery, if achieved, and require court approval.

Whistleblower notice

Individuals with non-public information about Madrigal Pharmaceuticals, Inc. should consider their options to help the investigation or take part in the SEC Whistleblower Program. Whistleblowers who provide original information that leads to a successful SEC enforcement action may receive awards of 10 to 30 percent of the sanctions collected, when those sanctions exceed $1 million. For more information, contact Howard G. Smith at [phone] or email [e-mail].

About The Law Offices of Howard G. Smith

The Law Offices of Howard G. Smith has helped injured investors recover their money for more than 15 years. The firm prosecutes securities fraud, takeover, and derivative litigation against public companies and their officers, directors, and advisors in federal and state courts nationwide, and has helped clients recover hundreds of millions of dollars in losses. Clients speak directly with a lawyer, who will promptly answer any question.

Prior results do not guarantee a similar outcome.

Related links

• Madrigal Pharmaceuticals, Inc. investigation, The Law Offices of Howard G. Smith
• Madrigal Form 10-Q
• Madrigal Pharmaceuticals, Inc. SEC filings index, EDGAR
• SEC Whistleblower Program
• The Law Offices of Howard G. Smith

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