Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) InvestorInvestigation Over Possible Breaches Of Fiduciary Duties Announced

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Company Name(s): 
Alexion Pharmaceuticals
Affected Securities: 
NASDAQ: ALXN

November 11, 2016 (Shareholders Foundation) - An investigation on behalf of investors in shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) was announced over potential breaches of fiduciary duties by certain officers and directors at Alexion Pharmaceuticals.

The investigation by a law firm concerns whether certain Alexion Pharmaceuticals, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Alexion Pharmaceuticals, Inc. reported that its annual Total Revenue rose from over $2.23 billion in 2014 to over $2.6 billion in 2015 while its respective Net Income declined from $656.91 million to $144.38 million.

Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) grew from $88.49 per share in June 2013 to as high as $204.30 per share in July 2015.

On June 6, 2016, Alexion Pharmaceuticals, Inc announced topline results from Phase 3 REGAIN Study of Eculizumab (Soliris®) in patients with refractory generalized myasthenia gravis.

On November 9, 2016, Alexion Pharmaceuticals, Inc announced that the Audit and Finance Committee of the Board of Directors is conducting an investigation into allegations that recently have been made by a former employee with respect to the Company’s sales practices of Soliris. Alexion Pharmaceuticals, Inc said that the Audit and Finance Committee is investigating whether Company personnel have engaged in sales practices that were inconsistent with Company policies and procedures and the related disclosure and other considerations raised by such practices and that the Audit and Finance Committee has retained outside counsel to assist it in the investigation.

Shares of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) declined on November 11, 2016 to $11.66 per share.