Thieler Law Corp advises investors with losses exceeding $100,000 of the October 19, 2015 lead plaintiff deadline in a class action lawsuit filed against Biogen Inc (NASDAQ: BIIB) (“Biogen” or “the Company”). The suit is pending in the U.S. District Court for the District of Massachusetts and investors, who purchased Biogen securities between January 29, 2015 and July 23, 2015, have until October 19, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Biogen securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Biogen and certain of its executive officers and directors misrepresented the financial gain that Biogen would receive from the sale of its drug TECFIDERA. TECFIDERA is one of Biogen’s flagship drugs.  Repeated times during the first half of 2015, the defendants projected 2015 revenue growth between 14% and 16% over 2014.  Specifically, the market was told that “TECFIDERA will represent the largest contributor to [Biogen’s] overall revenue growth.”

However, on July 24, 2015, Biogen reported a correction to its earlier announced revenue growth guidance, decreasing its projected growth by half “based largely on revised expectations for the growth of TECFIDERA.”  After the release of this news, the trading price of Biogen common stock declined from a closing price of $385.05 on July 23, 2015 to close at $300.03 per share on July 24, 2015, a loss of more than 22%, on extremely heavy trading volume.

If you were negatively impacted by your investment in Biogen securities between January 29, 2015 and July 23, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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