Robbins Arroyo LLP: Alexion Pharmaceuticals, Inc. (ALXN) Misled Shareholders According to a Recently Filed Lawsuit
Shareholder rights law firm Robbins Arroyo LLP announces that a shareholder derivative lawsuit was filed on behalf of Alexion Pharmaceuticals, Inc. (NasdaqGS:
ALXN). The complaint is brought against certain of Alexion's officers and directors for alleged breaches of fiduciary duties,
unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets, and violations of the Securities Exchange Act
of 1934. Alexion, a biopharmaceutical company, develops and commercializes life-transforming therapeutic products. Alexion's lead
product is known as Soliris, which is designed to treat paroxysmal nocturnal hemoglobinuria, a life-threatening genetic blood
disorder, and atypical hemolytic uremic syndrome, a life-threatening genetic disease.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/alexion-pharmaceuticals-inc-september-2017
Alexion Accused of Engaging in Schemes to Boost Sales of Its Product
According to the complaint, Alexion officials engaged in several unethical and potentially illegal schemes in order to sell
Soliris to a limited pool of patients. For example, company management placed immense pressure on salespeople to sell Soliris and
encouraged them to use extreme methods to secure patient orders of Soliris. These tactics included threatening doctors that their
patient could die if Soliris was not prescribed, even though there was insufficient evidence to indicate that use of Soliris lowers
or affects a patient's risk of death. In addition, senior management failed to enforce compliance with the company's policies and
procedures, which contributed to inappropriate business conduct that in turn caused the company's stock price to become
artificially inflated. Certain Alexion officials also profited greatly from their insider sales of company stock, collectively
selling over $356 million worth of stock. As a result of Alexion officials' misconduct, Alexion has been subject to massive
financial losses, investigations by the U.S. Securities and Exchange Commission, the U.S. Attorney's Office for the District of
Massachusetts, the Department of Justice, the U.S. Department of Health and Human Services' Office of Inspector General, and
Brazilian authorities, as well as a securities fraud class action lawsuit.
Alexion Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid
Kandinov at (800) 350-6003, LKandinov@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
Leonid Kandinov
(619) 525-3990 or Toll Free (800) 350-6003
LKandinov@robbinsarroyo.com
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