NEW YORK, July 14, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Sinovac Biotech Ltd. (NASDAQ:SVA) from April 30, 2013 through May 16, 2017, both dates inclusive (the “Class Period”). The lawsuit seeks to recover damages for Sinovac investors under the federal securities laws.
To join the Sinovac class action, go to http://www.rosenlegal.com/cases-1015.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, 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) as a result, Sinovac’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 1, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1015.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.