San Diego, CA -- (SBWire) -- 10/27/2016 --An investigation on behalf of investors in shares of Biogen Inc (NASDAQ:BIIB) concerning potential breaches of fiduciary duties by certain directors and officers of Biogen Inc was announced.
Investors who are current long term investors in Biogen Inc (NASDAQ:BIIB) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm for current long term investors in NASDAQ:BIIB stocks follows a lawsuit filed against Biogen Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:BIIB stocks, concerns whether certain Biogen directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges that Biogen and certain of its executive officers and directors misrepresented the financial benefits that Biogen would receive from the sale of its drug TECFIDERA. The plaintiff says that on multiple occasions during the first half of 2015, the defendants projected 2015 revenue growth between 14% and 16% over 2014 and that the market was told that "TECFIDERA will represent the largest contributor to [Biogen's] overall revenue growth." The plaintiff claims that Biogen Inc cut its projected growth guidance by half "based largely on revised expectations for the growth of TECFIDERA". Shares of Biogen Inc (NASDAQ:BIIB) declined to as low as $299.76 per share on July 24, 2015, respectively $265.00 per share on August 24, 2015.
Those who purchased shares of Biogen Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Long-Term Investor Investigation of Potential Wrongdoing at Biogen Inc Announced
An investigation on behalf of current long term investors in Biogen Inc (NASDAQ:BIIB) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:BIIB stockholders should contact the Shareholders Foundation.