NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP has filed a class action lawsuit in the United States District Court for the Northern District of California on behalf of current stockholders of SciClone Pharmaceuticals, Inc. (“SciClone” or the “Company”) (NASDAQ:SCLN) in connection with the planned acquisition of the company by affiliates of GL Capital Management GP Limited, Bank of China Group Investment Limited, CDH Investments, Ascendent Capital Partners, and Boying Investments Limited (the “Consortium”).
On June 8, 2017, SciClone announced it had entered into an agreement on June 7, 2017, pursuant to which the Consortium, through its subsidiary Silver Delaware Investment Limited, would acquire all outstanding shares of SciClone common stock for $11.18 per share. The lawsuit, which was filed on August 9, 2017 and entitled Daley v. SciClone Pharmaceuticals, Inc., et al. (Case No. 3:17-cv-04563), alleges that defendants solicit stockholders’ votes in support of the sale of the Company through a proxy statement that omits material facts necessary to make the statements therein not false or misleading. Stockholders require this material information to make a properly informed vote of their shares.
If you wish to serve as lead plaintiff, you must move the Court no later than October 30, 2017. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Joseph E. Levi, at Levi & Korsinsky, LLP, (212) 363-7500, or via e-mail at email@example.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member.
A CLASS HAS NOT BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.