NEW YORK, NY / ACCESSWIRE / August 31, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Sinovac Biotech Ltd. ("Sinovac" or the "Company") (NASDAQ: SVA) and certain of its officers, on behalf of shareholders who purchased Sinovac securities from April 30, 2013 through May 16, 2017, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/sva.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant Weidong Yin, Sinovac's Chairman and CEO, bribed a member of the Chinese Food and Drug Administration to assist Sinovac's vaccine clinical trial and approval; (2) such conduct would subject Sinovac to heightened regulatory scrutiny; and (3) consequently, Sinovac's public statements were materially false and misleading at all relevant times.
On December 21, 2016, SeekingAlpha.com reported that Sinovac's Chairman and Chief Executive Officer, 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, to help advance drug applications and evaluations. Then on May 16, 2017, Sinovac announced that the Securities Exchange Commission is investigating the Company for alleged bribery mentioned in SeekingAlpha's article, and that Sinovac would not be able to file its annual financial results on time.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/sva or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Sinovac you have until September 1, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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