DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the District of Massachusetts against Biogen Inc. (“Biogen”) (NasdaqGS: BIIB) and several officers and directors for acts taken during the period of January 29, 2015 to July 23, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Biogen. If you are an affected Biogen shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at email@example.com, Patrick Powers at Powers Taylor LLP via email at firstname.lastname@example.org, or call toll free at (877) 728-9607. There is no cost or fee to you.
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.