IMPORTANT INVESTOR ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Biogen Inc. & Encourages Investors ...
October 26 2016 - 6:47PM
Business Wire
Lundin Law PC, a shareholder rights firm, announces a class
action lawsuit has been filed against Biogen Inc. (“Biogen” or the
“Company”) (Nasdaq: BIIB) concerning possible violations of federal
securities laws between July 23, 2014 and July 23, 2015 inclusive
(the “Class Period”). Investors who purchased or otherwise acquired
shares during the Class Period should contact the Firm prior to the
December 23, 2016 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esquire, of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action. Until a class
is certified, you are not considered represented by an attorney.
You may also choose to do nothing and be an absent class
member.
According to the Complaint, Biogen issued false and misleading
statements concerning the safety profile and growth prospects of
Tecfidera, an immunosuppressant that is prescribed to treat
multiple sclerosis (“MS”). The Company publicly praised Tecfidera’s
attractive safety profile and solid growth trajectory, while aware
that the drug weakened the immune system for MS patients, causing
physicians to discontinue prescriptions of Tecfidera. On October
22, 2014, Biogen announced the death of a patient linked to
Tecfidera. On April 24, 2015, the Company disclosed that the
patient death announced in October 2014 was causing Tecfidera sales
to grow “at an overall slower rate” but the long-term outlook
“remain[ed] strong.” On July 24, 2015, Biogen abruptly cut its
revenue guidance in half due to a revised growth expectation for
Tecfidera based on safety concerns following the patient death.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding shareholders’
rights.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161026006967/en/
Lundin Law PCBrian Lundin, Esq.Telephone: 888-713-1033Facsimile:
888-713-1125brian@lundinlawpc.comhttp://lundinlawpc.com/
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