$BIIB Shareholder Alert

0
1256
Biotech Stocks

Biogen Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued statements suggesting that Biogen misrepresented the financial benefits that it would receive from the sale of its drug TECFIDERA. During the first half of 2015, Biogen predicted 2015 revenue growth between 14% and 16% over 2014. Specifically, Biogen told the market that TECFIDERA would represent the largest contributor to its overall revenue growth. Then, on July 24, 2015, Biogen announced a revision to its previously issued revenue growth guidance, reducing its expected growth by half “based largely on revised expectations for the growth of TECFIDERA.” Biogen stock dropped significantly immediately following this announcement.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Contact:
The Briscoe Law Firm, PLLC
Willie Briscoe, 877-728-9607
shareholders@thebriscoelawfirm.com
or
Powers Taylor LLP
Patrick Powers, 877-728-9607
shareholder@powerstaylor.com

LEAVE A REPLY

Please enter your comment!
Please enter your name here