|[December 20, 2013]
Lieff Cabraser Announces Class Action Litigation Against Sanofi, Inc. - GCVRZ
SAN FRANCISCO --(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.
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 abraser toll-free at 1-800-541-7358.
Background on the Sanofi Securities Class Action
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
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.
[ Back To Technology News's Homepage ]