Lieff Cabraser Announces Class Action Litigation Against Sanofi, Inc. - GCVRZ
December 20 2013 - 9:00AM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been brought on behalf
of all purchasers of the contingent value rights (“CVRs”) of Sanofi
(“Sanofi” or the “Company”) (NasdaqGM: GCVRZ) between March 6, 2012
and November 7, 2013, inclusive (the “Class Period”).
If you purchased the CVRs of Sanofi during the Class Period, you
may move the Court for appointment as lead plaintiff by no later
than February 10, 2014. A lead plaintiff is a representative party
who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the action will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as
your counsel in the action.
Sanofi investors who wish to learn more about the action and how
to seek appointment as lead plaintiff should click here or contact
Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Background on the Sanofi Securities Class
Action Litigation
Sanofi is a global pharmaceutical group engaged in the research,
development, manufacture and marketing of healthcare products.
The complaints allege that throughout the Class Period, Sanofi
and certain of its senior executives made false and misleading
statements and failed to disclose material adverse facts about the
Company’s business, operations, and prospects, in violation of
federal securities laws. Specifically, the complaints allege that
defendants misrepresented the safety and efficacy of Lemtrada, a
treatment for multiple sclerosis (“MS”). Defendants also misled
investors about the design of two pivotal Lemtrada trials by
failing to disclose that the trials contained high levels of
placebo effect and observer bias, which tainted the results and
thereby lowered the likelihood of approval by the Food and Drug
Administration (the “FDA”).
On November 8, 2013, the FDA Advisory Committee on Peripheral
and Central Nervous System Drugs issued a briefing report in
advance of its November 13, 2013 hearing, finding that “significant
concerns exist regarding the safety profile of alemtuzumab
[Lemtrada] and the adequacy of the efficacy data.” On this news,
Sanofi’s CVRs declined $1.23 per share, or nearly 62%, to close at
$0.77 per share on November 8, 2013 on unusually high trading
volume.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, is a nationally recognized law
firm committed to advancing the rights of investors and promoting
corporate responsibility.
Since 2003, the National Law Journal has selected Lieff Cabraser
as one of the top plaintiffs’ law firms in the nation. In compiling
the list, the National Law Journal examined recent verdicts and
settlements in addition to overall track records. Lieff Cabraser is
one of only two plaintiffs’ law firms in the United States to
receive this honor for the last ten consecutive years.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Lieff Cabraser Heimann & Bernstein, LLPSharon M. Lee,
1-800-541-7358
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