NEW YORK, May 23, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") (NASDAQ: ALXN). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Alexion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 8, 2017 Alexion's São Paulo offices were raided as part of an investigation into the Company's business practices. According to local law enforcement officials, Alexion may be involved in a scheme wherein the Company, with the aid of a local patient association, subsidized lawsuits for patients to get access to the Company's drug via Brazil's national health system.
On this news, Alexion's share price fell $4.34 or 3.37% to close at $124.48 on May 8, 2017. On May 16, 2017, Alexion's Chief Executive Officer Ludwig Hantson confirmed the police raid on Alexion's São Paulo offices and informed investors that the Company is reviewing its spending and compliance practices.
On this news, Alexion's share price fell $4.15 or 3.45%, to close at $116.15 on May 17, 2017. On May 23, 2017, Alexion announced the resignation of its Chief Financial Officer Dave Anderson, effective at the end of August.
On this news, Alexion's share price has fallen as much as $9.13 or 7.91% during intraday on May 23, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP