NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Sinovac Biotech Ltd. (“Sinovac” or the “Company”) (NASDAQ:SVA).
The investigation focuses on whether the Company and its executives violated federal securities laws. Specifically, on December 21, 2016, Seeking Alpha published an article stating that the Chairman and CEO of Sinovac, Weidong Ying, paid bribes to Yin Hongzhang, the Deputy Director General of the Center for Drug Evaluation for the China Food and Drug Administration, in order to help advance drug applications and evaluations. Furthermore, on May 16, 2017, the Company issued a press release and filed a Form 6-K with the Securities and Exchange Commission (“SEC”), disclosing, among other things, that the SEC issued a subpoena requesting documents relating to the allegations referenced in the Seeking Alpha article.
As a result of these disclosures, Sinovac’s share price declined, causing harm to investors.
If you invested in Sinovac stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/SVA. There is no cost or obligation to you.
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