Investigation

“At this point in time, the Audit and Finance Committee’s investigation has not identified any facts that require the Company to update its previously reported historical results,” the Alexion press release read. In addition, the company reports that the investigation is “nearing completion.”

Alexion reported that board member and former AstraZeneca plc (ADR) AZN 2.82% CEO David Brennan will be taking over as interim CEO. In addition, former Honeywell International Inc. HON 0.58% CFO David Anderson will be taking over as new chief financial officer at Alexion.

In addition to the management changes, Alexion reported that the company expects to file its Q3 10-Q form no later than January 2017.

Stock Movement

The market’s knee-jerk reaction to the news seems to be skepticism. Clearly the market is…

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