NEW YORK, Nov. 16, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Alexion Pharmaceuticals, Inc. ("Alexion" or the "Company") (NASDAQ: ALXN).
The investigation focuses on whether the Company and its executives violated federal securities laws by engaging in inappropriate sales practices.
Specifically, on November 4, 2016, Alexion abruptly cancelled an appearance at the Credit Suisse Healthcare Conference and failed to file its quarterly report by market close within its historical two-day window following an earnings announcement on October 27, 2016.
On this news, Alexion's share price fell from $129.00 per share on November 4, 2016 to a closing price of $120.05 on November 7, 2016—a $8.95 or a 6.9% drop.
Then, on November 9, 2016, Alexion revealed that the delay of its quarterly report was due to an investigation being carried out by the audit and finance committee of its board of directors into whether any of its personnel "engaged in sales practices that were inconsistent with company policies and procedures."
If you invested in Alexion common stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/ALXN. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Alexion's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. [email protected] Telephone: (877) 247-4292 or (212) 983-9330