Robbins Arroyo LLP: Alexion Pharmaceuticals, Inc. (ALXN) Misled Shareholders According to a Recently Filed Class
Action
Shareholder rights law firm Robbins Arroyo LLP announces that a class action complaint was filed against Alexion Pharmaceuticals, Inc. (NASDAQGS: ALXN) in the
U.S. District Court for the Southern District of New York. The complaint is brought on behalf of all purchasers of Alexion
securities between February 10, 2014 and November 9, 2016, for alleged violations of the Securities Exchange Act of 1934 by
Alexion's officers and directors. Alexion, a biopharmaceutical company, develops and commercializes life-transforming therapeutic
products. Among the company's products is Soliris, a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria
and atypical hemolytic uremic syndrome.
View this information on the law firm's Shareholder Rights Blog: http://www.robbinsarroyo.com/shareholders-rights-blog/alexion-pharmaceuticals-inc-nov-2016
Alexion Accused of Engaging in Improper Sales Practices
According to the complaint, Alexion submitted several filings with the U.S. Securities and Exchange Commission stating that the
financial information was accurate and disclosed any material changes to the company's internal control over financial reporting.
The company's Q2 2016 8-K noted that Soliris net product sales were $701 million, compared to $636 million in Q2 2015, representing
a 10% increase and 15% year-on-year increase. However, the complaint alleges that Alexion officials failed to disclose that Alexion
employed improper sales practices with respect to Soliris and, consequently, the company's revenues from Soliris sales were
unlikely to be sustainable.
On November 4, 2016, Alexion canceled an appearance at the Credit Suisse Healthcare Conference, telling Leerink Partners LLC
that "something came up." On November 9, 2016, the company announced that it would be unable to timely file its Form 10-Q for the
quarter ended September 30, 2016, citing an internal investigation concerning the company's Soliris sales practices. Alexion stated
that company personnel may have engaged in sales practices that were inconsistent with company policies and procedures. On this
news, Alexion's stock fell $13.54 per share, or 10.65%, to close at $113.62 per share on November 11, 2016.
Alexion Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R.
Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the
shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Robbins Arroyo LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003
DDonahue@robbinsarroyo.com
www.robbinsarroyo.com
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