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Alexion Pharmaceuticals, Inc. (ALXN)

NASDAQ: ALXN

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Alexion Pharmaceuticals, Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Alexion Pharmaceuticals, Inc. (“Alexion” or the “Company”) (NASDAQ:ALXN) of the January 17, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of Connecticut on behalf of all those who purchased Alexion securities between February 10, 2014 and December 9, 2016 (the “Class Period”).  The case, Boston Retirement System v. Alexion Pharmaceuticals Inc et al., No. 3:16-cv-02127 was filed on December 29, 2016.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (i) Alexion employed improper sales practices with respect to Soliris, a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH); (ii) the Company’s revenues from Soliris sales were unlikely to be sustainable; and (iii) as a result, Alexion’s public statements were materially false and misleading.

Specifically, on November 4, 2016, Alexion cancelled an appearance at the Credit Suisse Healthcare Conference and failed to file its quarterly report by market close within its historical two-day window following an earnings announcement on October 27, 2016.  On this news, Alexion’s share price fell from $129.00 per share on November 4, 2016 to a closing price of $120.05 on November 7, 2016—a $8.95 or a 6.94% drop.

Additionally, after-market close on November 9, 2016, Alexion filed a Form 8-K and a Form NT 10-Q with the U.S. Securities and Exchange Commission disclosing it 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 from $127.16 per share on November 9, 2016 to a closing price of $126.88 on November 10, 2016—a $0.28 or a 0.22% drop.  The Company’s share price significantly declined the next trading day to a closing price of $113.62 on November 11, 2016—a $13.26 or a 10.45% drop from November 10, 2016.

Lastly, pre-market on December 12, 2016, the Company announced the resignations of Chief Executive Officer, David Hallal, and Chief Financial Officer, Vikas Sinha.  On this news, Alexion’s share price fell from $132.07 per share on December 9, 2016 to a closing price of $115.08 on December 12, 2016—a $16.99 or a 12.86% drop.

Take Action

If you invested in Alexion common stock or options between February 10, 2014 and December 9, 2016 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 rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Alexion’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Alexion Pharmaceuticals, Inc. (ALXN)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/17/2016

Class Period:

  • 02/10/2014 - 12/09/2016

Send Information

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