Case Page

 

Case Status:    DISMISSED    
On or around 11/07/2016 (Other)

Filing Date: December 04, 2014

According to the law firm press release, Sanofi is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Sanofi was making improper payments to healthcare professionals in connection with the sale of pharmaceutical products in violation of federal law; (2) Sanofi lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, Sanofi's public statements were materially false and misleading at all relevant times.

On October 6, 2014, the Company's media relations department issued a statement announcing that the Company was investigating allegations related to improper payments to healthcare workers.

On October 29, 2014, the Company issued a press release and filed a Form 6-K with the SEC, announcing that its Board of Directors had decided to terminate the Chief Executive Officer of Sanofi. As a result of this news, shares of Sanofi fell as much as $2.85 or almost 6%, in unusually heavy volume, to close at $45.22 on October 29, 2014.

On January 6, 2016, the Court issued an Order granting defendants' motion to dismiss. A Notice of Appeal of this Order was filed on July 25. The Appeal was voluntarily dismissed on November 7.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Major Drugs
Headquarters: France

SECURITIES INFORMATION:

Ticker Symbol: SNY
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 14-CV-09624
JUDGE: Hon. P. Kevin Castel
DATE FILED: 12/04/2014
CLASS PERIOD START: 02/07/2013
CLASS PERIOD END: 12/03/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 14-CV-09624
JUDGE: Hon. P. Kevin Castel
DATE FILED: 05/19/2015
CLASS PERIOD START: 02/07/2013
CLASS PERIOD END: 10/29/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date