MINNEAPOLIS, Nov. 22, 2016 (GLOBE NEWSWIRE) -- Lockridge Grindal Nauen P.L.L.P. announces that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Alexion Pharmaceuticals, Inc. (“Alexion” or the “Company”) (NYSE:ALXN) securities between February 10, 2014 through November 9, 2016 (the “Class Period”).
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before January 17, 2017. You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges Alexion made false and/or misleading statements and/or failed to disclose: 1) that the Company employed improper sales practices with respect to its product Soliris; 2) that the Company’s revenues from Soliris sales were unlikely to be sustainable; and 3) that as a result of the above, Alexion’s public statements were materially false and misleading at all relevant times. On November 4, 2016, Alexion cancelled an appearance at the Credit Suisse Healthcare Conference. Following the cancellation, analysts noticed that the Company also failed to file its Quarterly Report on Form 10-Q with the SEC within two days of its earnings announcement on October 27, 2016. On this news, Alexion’s share price fell $8.95, or 6.94%, to close at $120.05 on November 7, 2016. On November 9, 2016, Alexion announced that the Company would not be able to timely file its financial and operating results for the quarter ended September 30, 2016. When this information was disclosed, shares of Alexion declined in value, causing investors harm. On this news, Alexion’s share price fell $0.28, or 0.22%, to close at $126.88 on November 10, 2016. As the market continued to digest the significance of Alexion’s announced investigation, Alexion’s share price fell an additional $13.26, or 10.45%, to close at $113.62 on November 11, 2016.
If you purchased Alexion Pharmaceuticals, Inc. stock during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Gregg M. Fishbein, Esq. (gmfishbein@locklaw.com)
Lockridge Grindal Nauen P.L.L.P.
100 Washington Avenue South, Suite 2200
Minneapolis, MN 55401
(612) 339-6900