Company Website:
http://lundinlawpc.com
LOS ANGELES -- (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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161026006967/en/
Contacts:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile:
888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
Source: Lundin Law PC
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