LOS ANGELES--(BUSINESS WIRE)--
Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Alexion Pharmaceuticals, Inc. (“Alexion” or the “Company”) (NASDAQ: ALXN) securities between February 10, 2014 and November 9, 2016, inclusive (the “Class Period”). Alexion investors have until January 17, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Alexion investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to [email protected].
According to the Complaint filed in this lawsuit, Alexion made false and/or misleading statements and/or failed to disclose: (1) that Alexion 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 December 12, 2016, the Company announced that Alexion CEO David Hallal and CFO Vikas Sinha have both resigned effective immediately; these resignations come amid allegations that the Company engaged in improper sales practice on its top producing drug Soliris. On this news Alexion shares fell over $20 per share or 15% during intraday trading on December 12, 2016.
If you purchased shares of Alexion during the Class Period you may move the Court no later than January 17, 2017 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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