NEW YORK, Dec. 30, 2016 /PRNewswire/ -- Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it has filed a securities class action lawsuit on behalf of Boston Retirement System against Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") (NASDAQ: ALXN) and certain of its senior executives. The action, which is captioned Boston Retirement System v. Alexion Pharmaceuticals, Inc., No. 3:16-cv-02127 (D. Conn.), asserts claims under the Securities Exchange Act of 1934 on behalf of investors in Alexion securities during the time period of February 10, 2014 to December 9, 2016, inclusive (the "Class Period").
The Complaint alleges that during the Class Period, Alexion reported false and misleading financial results that were inflated through improper sales of a drug named Soliris. The complaint also alleges that Alexion misrepresented and concealed that the Company had an effective marketing strategy for Soliris. On November 9, 2016, Alexion announced that it would be unable to timely file its financial results because it was investigating improper sales of Soliris. Then, on December 12, 2016, Alexion's Chief Executive Officer and Chief Financial Officer resigned.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than January 17, 2017, which is 60 days from the date that notice of pendency of the filing of Juarez v. Alexion Pharmaceuticals, Inc., No. 1:16-cv-08946-RMB (S.D.N.Y. filed Nov. 17, 2016) was published. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at avi@blbglaw.com.
Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders' rights, employment discrimination, and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP
