Company Website:
http://www.rosenlegal.com/cases-700.html
NEW YORK -- (Business Wire)
Rosen Law Firm, a global investor rights firm, reminds all purchasers of
Biogen Inc. (NASDAQ: BIIB) securities from January 29, 2015 through July
23, 2015, inclusive (the “Class Period”), of the important October 19,
2015 lead plaintiff deadline in the class action. The lawsuit seeks to
recover investors’ losses under the federal securities laws.
To join the Biogen class action, visit the firm’s website at http://www.rosenlegal.com/cases-700.html,
or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at
866-767-3653 or via email at pkim@rosenlegal.com
or kchan@rosenlegal.com for
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, Biogen and certain of its executive officers
and directors misrepresented the financial benefits that Biogen would
receive from the sale of its drug TECFIDERA. TECFIDERA is one of
Biogen’s most important drug products. On multiple occasions during the
first half of 2015, the defendants projected 2015 revenue growth between
14% and 16% over 2014. Specifically, the market was told that “TECFIDERA
will represent the largest contributor to [Biogen’s] overall revenue
growth.”
However, on July 24, 2015, Biogen revealed a correction to its earlier
announced revenue growth guidance, decreasing its projected growth by
half “based largely on revised expectations for the growth of
RECFIDERA.” Consequently, the trading price of Biogen common stock
dropped from a closing price of $385.05 on July 23, 2015 to close at
$300.03 per share on July 24, 2015, a loss of more than 22%, on
extremely heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later
than October 19, 2015. A lead plaintiff is a representative party acting
on behalf of other class members in directing the litigation. If you
wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-700.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm
toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150831006160/en/
Contacts:
The Rosen Law Firm, P.A.
Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin
Chan, Esq.
275 Madison Avenue, 34th Floor
New York,
NY 10016
Tel: 212-686-1060
Toll Free: 866-767-3653
Fax:
212-202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
Source: The Rosen Law Firm, P.A.
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