LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Sinovac Biotech Ltd. (“Sinovac” or the “Company”) (Nasdaq: SVA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between April 30, 2013 and May 16, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before September 1, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Sinovac violated federal securities laws by making materially false and misleading public statements, and/or failing to disclose material information, to investors. On December 21, 2016, SeekingAlpha.com published an article revealing that the Company’s Chairman and CEO Weidong Ying paid bribes to the Deputy Director General of the Center for Drug Evaluation for the China Food and Drug Administration and his wife, in order to help advance drug applications and evaluations. On May 16, 2017, Sinovac announced that the U.S. Securities & Exchange Commission is conducting an enforcement investigation related to the bribery discussed in the article, and that the Company would not be able to timely file its annual financial results. Following this news, Sinovac’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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