Cases
Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN)
Securities Class Action
Overview
Overview
- Date:
- 11/30/2016
- Company Name:
- Alexion Pharmaceuticals, Inc.
- Stock Symbol:
- ALXN
- Class Period:
- FROM 2/10/2016 TO 12/9/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Southern District of New York
NEW YORK, November 30, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Illinois Northern District Court on behalf of all persons or entities who acquired the Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) securities between February 10, 2016 to November 9, 2016 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alexion employed improper sales practices with respect to Soliris; (ii) consequently, the Company's revenues from Soliris sales were unlikely to be sustainable; and (iii) as a result of the foregoing, 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, scheduled for November 6-8, 2016, telling Leerink Partners LLC only that something came up. Following the cancellation, analysts noted that Alexion had 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, a break from the Company's historical practice. On this news, Alexion's share price fell $8.95, or 6.94%, to close at $120.05 on November 7, 2016 the following trading day. On November 9, 2016, post-market, Alexion issued a press release and filed a Current Report on Form 8-K with the SEC concerning certain of the Company's financial and operating results for the quarter ended September 30, 2016 (the Q3 2016 8-K) and filed a Form NT 10-Q with the SEC (the Q3 2016 NT 10-Q), announcing that the Company would not be able to timely file its financial and operating results for the quarter ended September 30, 2016. 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, Alexions share price fell an additional $13.26, or 10.45%, to close at $113.62 on November 11, 2016.
If you acquired Alexion securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alexion employed improper sales practices with respect to Soliris; (ii) consequently, the Company's revenues from Soliris sales were unlikely to be sustainable; and (iii) as a result of the foregoing, 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, scheduled for November 6-8, 2016, telling Leerink Partners LLC only that something came up. Following the cancellation, analysts noted that Alexion had 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, a break from the Company's historical practice. On this news, Alexion's share price fell $8.95, or 6.94%, to close at $120.05 on November 7, 2016 the following trading day. On November 9, 2016, post-market, Alexion issued a press release and filed a Current Report on Form 8-K with the SEC concerning certain of the Company's financial and operating results for the quarter ended September 30, 2016 (the Q3 2016 8-K) and filed a Form NT 10-Q with the SEC (the Q3 2016 NT 10-Q), announcing that the Company would not be able to timely file its financial and operating results for the quarter ended September 30, 2016. 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, Alexions share price fell an additional $13.26, or 10.45%, to close at $113.62 on November 11, 2016.
If you acquired Alexion securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.