 | ||
|
| Home Annual/Quarterly Updates About Us
|
Sanofi-Aventis Summary: According to a law firm press release, a class action was filed against Sanofi-Aventis on November 13, 2007.
The complaint charges Sanofi and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sanofi-Aventis engages in the research, development, manufacture, and marketing of healthcare products worldwide.
Sanofi is the third largest pharmaceutical company in the world. According to the complaint, in 2002, Sanofi began testing a new drug, Zimulti, which is designed to fight obesity by reducing appetite. As the first drug of its class, Zimulti was projected to become extremely profitable for Sanofi. Sanofi submitted its New Drug Application (“NDA”) for Zimulti in April 2005 and on June 23, 2005, the Company announced that the Food and Drug Administration (“FDA”) had accepted it for filing. The complaint alleges that defendants’ statements regarding Zimulti were materially false and misleading when made because defendants concealed data concerning Zimulti’s propensity to cause depression.
On June 13, 2007, the committee met and made a unanimous decision that Zimulti could not be recommended for approval. After the FDA’s decision on June 13, 2007, Sanofi’s securities declined $1.87, or 4.16%, closing at $43.07 on heavy trading volume.
On February 29,2008, Order Appointing The Global, Funds As Lead Plaintiff And Approving Lead Plaintiff's Selection Of Lead Counsel. On April 29, 2008, a Consolidated Complaint For Violations Of Securities Laws was filed with the court by the lead plaintiffs.
On September 26, 2009, Defendants motion to dismiss plaintiffs' claims pursuant to Fed. R. Civ. P. 12(b)(6) was granted pursuant to the Court's Memorandum Opinion and Order dated September 25, 2009.
INDUSTRY CLASSIFICATION:
SIC Code: 2834
Sector: Healthcare
Industry: Major Drugs
| COMPANY/ISSUER NAME: | Sanofi-Aventis |
| COMPANY/ISSUER TICKER: | SNY |
| COMPANY WEBSITE: | http://www.sanofi-aventis.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| City of Taylor General Employees Retirement System, et al. v. Sanofi-Aventis, et al. | |||||||||||||||||
| |||||||||||||||||
| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint For Violation Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 11/13/2007 | ||
| Order Appointing The Global, Funds As Lead Plaintiff And Approving Lead Plaintiff's Selection Of Lead Counsel. | |||
| Type: Order Appointing LP/LC | Date on the document: 02/29/2008 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| In re Sanofi-Aventis Securities Litigation | |||||||||||||||||
| |||||||||||||||||
| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Complaint For Violations Of Securities Laws | |||
| Type: Complaint | Date on the document: 04/29/2008 | ||
| Memorandum Opinion And Order | |||
| Type: Order | Date on the document: 09/25/2009 | ||
| Judgment | |||
| Type: Other | Date on the document: 09/26/2009 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 09/26/2009 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.
Go to Search page | Go to Case Index page | Back to Top