On or around 09/08/2017 (Ongoing date of last review)
Filing Date: July 03, 2017
According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendant 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.
This case was voluntarily dismissed on September 6, 2017.
Company & Securities Information
Defendant: Sinovac Biotech Ltd.
Industry: Biotechnology & Drugs
Ticker Symbol: SVA
Company Market: NASDAQ
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.
First Identified Complaint
Shouqi Luo, et al. v. Sinovac Biotech Ltd., et al.