A lawsuit was filed on behalf of investors in Biogen Inc (NASDAQ:BIIB) shares over alleged securities laws violations and NASDAQ:BIIB investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/09/2015 -- An investor in shares of Biogen Inc (NASDAQ:BIIB), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Biogen Inc in connection with certain allegedly false and misleading statements made between January 29, 2015 and July 23, 2015.
Investors who purchased shares of Biogen Inc (NASDAQ:BIIB) have certain options and for certain investors are short and strict deadlines running. Deadline: October 19, 2015. NASDAQ:BIIB investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint 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."
On July 24, 2015, pre-market, Biogen Inc reported its second quarter 2015 results and updated its full-year financial guidance from 14-16% to 6-8% above 2014 revenues.
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 (NASDAQ:BIIB) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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