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NEW YORK, Oct. 21, 2016 -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Biogen Inc. (“Biogen”) (NASDAQ:BIIB) between July 23, 2014 and July 23, 2015. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:
http://www.zlk.com/pslra/biogen-inc
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that the defendants employed devices, schemes and artifices to defraud, while in possession of material adverse non-public information, in an effort to assure investors of Biogen’s value and performance and continued substantial growth. In particular, the complaint alleges that the Company failed to disclose material information about the Company’s business, particularly in regards to their Tecfidera drug treatment.
In 2014, the MS Institute at Shepherd Center in Georgia, a prescriber of Tecfidera, began conducting blood tests of MS patients taking the drug. By August of that year, the Center began notifying Biogen that Tecfidera was causing low lymphocyte counts among approximately 30% of the Center’s MS patients taking the drug; eventually the Center stopped prescribing Tecfidera and transferred many of its patients to other therapies. Biogen, however, continued to tout the safety and growing sales of Tecfidera throughout the second and third quarter of 2014.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
