Safirstein Metcalf LLP Announces That A Class Action Lawsuit Has Been Filed Against Alexion Pharmaceuticals, Inc. - ALXN

NEW YORK, Dec. 28, 2016 -- Safirstein Metcalf LLP announces that a class action has been filed in the United States District Court for the Southern District of New York against Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") (Nasdaq:ALXN) on behalf of a class consisting of all persons or entities who purchased or otherwise acquired the securities of Alexion between February 10, 2014 and November 9, 2016, both dates inclusive (the "Class Period").

If you purchased Alexion securities during the class period, and would like more information about getting involved in the Alexion Securities Class Action please contact Sheila Feerick at 1-800-221-0015, or email [email protected]

If you wish to serve as lead plaintiff, you must move the Court no later than January 17, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative 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.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Alexion employed improper sales practices with respect to Soliris; (ii) consequently, the Company's revenues from Soliris sales were unlikely to be sustainable; and (iii) as a result of the foregoing, Alexion's public statements were materially false and misleading at all relevant times.

On November 4, 2016, Alexion cancelled an appearance at the Credit Suisse Healthcare Conference, scheduled for November 6-8, 2016, telling Leerink Partners LLC only that "something came up." Following the cancellation, analysts noted that Alexion had also failed to file its Quarterly Report on Form 10-Q with the SEC within two days of its earnings announcement on October 27, 2016, a break from the Company's historical practice.  Following this news, Alexion's share price fell $8.95, or 6.94%, to close at $120.05 on November 7, 2016, the following trading day.

On November 9, 2016, post-market, Alexion issued a press release and filed a Current Report on Form 8-K with the SEC concerning certain of the Company's financial and operating results for the quarter ended September 30, 2016 (the "Q3 2016 8-K") and filed a Form NT 10-Q with the SEC (the "Q3 2016 NT 10-Q"), announcing that the Company would not be able to timely file its financial and operating results for the quarter ended September 30, 2016.

Following this news, Alexion's share price fell $0.28, or 0.22%, to close at $126.88 on November 10, 2016. As the market continued to digest the significance of Alexion's announced investigation, Alexion's share price fell an additional $13.26, or 10.45%, to close at $113.62 on November 11, 2016.

About Safirstein Metcalf LLP

Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection.  All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.

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