LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Sinovac Biotech Ltd. (“Sinovac” or the “Company”) (NASDAQ: SVA) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Sinovac investigation page on our website at www.glancylaw.com/case/sinovac-biotech-ltd.
Sinovac is a Chinese biopharmaceutical company that engages in the research, development, manufacture and commercialization of vaccines against hepatitis A, hepatitis B, seasonal influenza, H5N1 and H1N1 pandemic influenza, and mumps.
On December 21, 2016, a report was published on SeekingAlpha.com claiming that Sinovac’s Chairman and CEO, Weidong Ying, bribed a member of the Chinese Food and Drug Administration to assist its vaccine clinical trial and approval. On this news, the company’s share price declined, thereby injuring investors.
Then, on May 16, 2017, the Company issued a press release disclosing that the SEC notified the Company of an enforcement inquiry related to the matters discussed in the SeekingAlpha.com report, and that the SEC issued a subpoena requesting documents related to the Company’s internal investigation into the matter. On this news, the Company’s share price fell 4.6% on May 17, 2017, thereby injuring investors.
If you purchased Sinovac securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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