Case Name: Alexion Pharmaceuticals

Settlement Fund: $125,000,000

Claim Filing Deadline: 12/15/2023

Class: 1/30/2014 -- 05/26/2017

Class definition: All persons or entities who purchased or otherwise acquired the publicly traded common stock of Alexion Pharmaceuticals from January 30, 2014 to May 26, 2017, inclusive.

Court and Case Number: District of Connecticut, 3:16-cv-2127

Symbol: ALXN

Alexion Pharmaceuticals has settled a securities class action over allegations that it relied on improper sales tactics to market its flagship drug, Soliris. Soliris is an antibody for the treatment of rare blood diseases and disorders.

What This Case Is About

Plaintiffs alleged in their class action complaint that Alexion’s earnings were inflated by improper sales of Soliris and that the Company’s sales force was “not sufficient to effectively market” the drug, and that, “Alexion was forced to resort to illicit sales tactics to meet earnings targets.” This latter claim allegedly included pressuring or frightening patients to use Soliris. Defendants deny the allegations.

How CCC Can Help

The complaint in this litigation was filed on December 29, 2016. This litigation has been hard fought, and now all parties—judge, defendants, plaintiffs, and class members—are all considerably older, and so is their trade data. The class period begins on January 30, 2014, which is nearly ten years before the claim filing deadline of December 15.

Do you know where that data is? Might it be in an older format than what you now use, perhaps even an obsolete format? Is it with a previous custodian or on material from a previous software vendor? Chicago Clearing Corporation (CCC) can retrieve the data for you and even make it pretty again. We specialize in retrieving old trade data and in normalizing data from disparate systems.

Might some of your clients have moved or closed accounts? CCC can help with that too. Our staff can remove the headaches of both claim filing and distribution allocations. We can hunt down former clients, find new addresses, and do all the grunt work that distracts your team from the real work of investing.

Any questions? Call us today at 312-204-6970.

The team at CCC has already begun reviewing data for our clients in this litigation, and for well over a hundred other securities and antitrust class actions throughout the globe. We have the know-how and the diligence to manage complex claims. Give us a call today. We’ll remove the burden of keeping up with class actions and get you back to focusing on the stock market.

For More Information:

Bloomberg Law, September 14, 2023, “Alexion, Investors Reach $125 Million Deal in Soliris Sales Suit”

https://news.bloomberglaw.com/litigation/alexion-investors-reach-125-million-deal-in-soliris-sales-suit