Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Biogen Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Biogen Inc. (“Biogen” or the “Company”) (NasdaqGS:BIIB) of the October 19, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
A lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class consisting of all persons or entities who purchased Biogen securities between January 29, 2015 and July 23, 2015.
The complaint alleges that the Company and its executives violated federal securities laws by failing to appropriately estimate the financial benefit from the sale of TECFIDERA, one of the Company’s main drugs. Specifically, on July 24, 2015, the Company reported that it was amending its previously issued revenue growth projection of 14-16% for the first half of 2015 to around half that amount. Biogen cited the unexpected lack of sales growth in TECFIDERA as an important factor for the revision.
After the announcement, Biogen’s share price fell from a closing price of $385.05 per share on July 23, 2015, to a closing price of $300.03 per share on July 24, 2015—a drop of $85.02 or over 22%.
If you invested in Biogen stock or options between January 29, 2015 and July 23, 2015 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Biogen’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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