A Deadline is coming up on October 19, 2015 in the lawsuit for investors in Biogen Inc (NASDAQ:BIIB and NASDAQ:BIIB) stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/14/2015 -- A deadline is coming up on October 19, 2015 in the lawsuit filed for investors of Biogen Inc (NASDAQ:BIIB) over alleged securities laws violations by Biogen.
Investors who purchased shares of Biogen Inc (NASDAQ:BIIB) have certain options and there are strict and short deadlines running. Deadline: October 19, 2015. NASDAQ:BIIB stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the District of Massachusetts the plaintiff alleges on behalf of purchasers of Biogen Inc (NASDAQ:BIIB) common shares between January 29, 2015 and July 23, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between January 29, 2015 and July 23, 2015 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 $263.51 per share on October 12, 2015.
Those who purchased shares of Biogen Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego