BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Sinovac Biotech Ltd. (“Sinovac” or the “Company”) (NASDAQ: SVA) concerning the Company and its officers’ potential violation of federal securities laws.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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