SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

October 31, 2016 10:36 ET

INVESTOR ALERT: Levi & Korsinsky, LLP Notifies Shareholders of Biogen Inc. of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of December 23, 2016 - BIIB

NEW YORK, NY--(Marketwired - October 31, 2016) - October 31, 2016 - The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Biogen Inc. ("Biogen") (NASDAQ: BIIB) between July 23, 2014 and July 23, 2015. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the District of Massachusetts. To get more information go to:

http://www.zlk.com/pslra/biogen-inc

or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that the defendants employed devices, schemes and artifices to defraud, while in possession of material adverse non-public information, in an effort to assure investors of Biogen's value and performance and continued substantial growth. In particular, the complaint alleges that the Company failed to disclose material information about the Company's business, particularly in regards to their Tecfidera drug treatment.

In 2014, the MS Institute at Shepherd Center in Georgia, a prescriber of Tecfidera, began conducting blood tests of MS patients taking the drug. By August of that year, the Center began notifying Biogen that Tecfidera was causing low lymphocyte counts among approximately 30% of the Center's MS patients taking the drug; eventually the Center stopped prescribing Tecfidera and transferred many of its patients to other therapies. Biogen, however, continued to tout the safety and growing sales of Tecfidera throughout the second and third quarter of 2014.

If you suffered a loss in Biogen you have until December 23, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph E. Levi, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com