Boston Retirement System v. Alexion Pharmaceuticals Inc.

Labaton Keller Sucharow is co-lead counsel in a securities class action lawsuit against Alexion Pharmaceuticals, Inc. (Alexion) and certain of its executives.  A $125 million settlement was reached that resolves claims on behalf of all persons or entities who purchased or otherwise acquired the publicly traded common stock of Alexion from January 30, 2014, to May 26, 2017, inclusive (the Class Period), and were allegedly damaged thereby.

Alexion is a pharmaceutical drug company that, during the Class Period, generated nearly all of its revenue from selling the Company’s flagship drug, Soliris, which treats, among others, patients suffering from one of two ultra-rare diseases.  In the action, Class Representatives alleged that Defendants violated the Securities Exchange Act of 1934 by allegedly making materially false and misleading statements and omissions principally connected to Alexion’s sales practices in connection with the marketing of Soliris.  Class Representatives further alleged that the price of Alexion common stock was artificially inflated as a result of the allegedly false and misleading statements and omissions and that the Company’s stock price declined when the alleged truth about Alexion’s business was allegedly revealed through a series of partial corrective disclosures beginning with information released on November 4, 2016, which allegedly affected the price of Alexion common stock on November 7, 2016, and thereafter.

The case is Boston Retirement System v. Alexion Pharmaceuticals, Inc., Case No. 3:16-cv-02127 (AWT).  Labaton Keller Sucharow represents co-lead plaintiff Public Employee Retirement System of Idaho.  The Court in charge of the case is the United States District Court for the District of Connecticut.

Submit Claim Form

If you purchased or otherwise acquired the publicly traded common stock of Alexion from January 30, 2014, to May 26, 2017, inclusive, and were allegedly damaged thereby, you may be entitled to a payment from a class action settlement.  To be eligible for a payment, you must submit a Claim Form to the Claims Administrator by December 15, 2023.

Settlement Hearing

A Settlement Hearing was held on December 20, 2023, at the Abraham Ribicoff Federal Building, United States Courthouse, South Courtroom, 450 Main Street, Hartford, CT 06103.  The Court approved the Settlement and the Plan of Allocation and awarded attorneys’ fees and expenses.  If you have questions about the Settlement, please contact Labaton Keller Sucharow at settlementquestions@labaton.com; 1-888-219-6877; or contact the Claims Administrator, at 1-866-573-1726.

Additional information about the Settlement can also be found at www.AlexionSecuritiesSettlement.com.