Shareholder Class Action Filed Against Biogen, Inc. - BIIB

RADNOR, Pa., Sept. 21, 2015 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Biogen, Inc. (Nasdaq: BIIB) ("Biogen" or the "Company") on behalf of purchasers of the Company's common stock between January 29, 2015 and July 23, 2015, inclusive (the "Class Period").

Biogen shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706 or at [email protected]. 

For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/biogen-inc.

Biogen is a global biopharmaceutical company focused on discovering, developing, manufacturing, and delivering therapies for neurological, autoimmune, and hematologic disorders. The Company's principal products include therapies designed to assist in the treatment of multiple sclerosis, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA.

The Complaint alleges that Biogen and certain of its senior executive officers issued a series of misleading statements to investors regarding Biogen's expected fiscal 2015 financial results, and how sales of TECFIDERA were expected to drive the Company's 2015 revenue growth.

On July 24, 2015, Biogen issued a press release reporting its second quarter 2015 financial and operational results.  Therein, the Company also disclosed to investors that it had significantly reduced its expected 2015 revenue growth, from year-over-year growth of 14 – 16% to growth of 6 – 8%, "based largely on revised expectations for the growth of TECFIDERA."

Following this news, shares of Biogen's common stock declined $85.02 per share, or over 22%, to close on July 24, 2015 at $300.03 per share, on heavy trading volume.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at [email protected] 

Members of the class may, no later than October 19, 2015, petition the Court to be appointed as a lead plaintiff of the class.  A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.  Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. 

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country.  Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check.  For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

CONTACT: Kessler Topaz Meltzer & Check, LLPDarren J. Check, Esq.D. Seamus Kaskela, Esq.Adrienne O. Bell, Esq.280 King of Prussia RoadRadnor, PA 19087(888) 299 - 7706(610) 667 - 7706[email protected]

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SOURCE Kessler Topaz Meltzer & Check, LLP