The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that
class action litigation has been brought on behalf of those who
purchased or otherwise acquired the securities of Sanofi (“Sanofi” or
the “Company”) (NYSE: SNY) between February 7, 2013 and December 3,
2014, inclusive (the “Class Period”).
If you purchased or otherwise acquired Sanofi securities during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than February 2, 2015. 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.
Sanofi
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 Cabraser toll-free at 1-800-541-7358.
Background on the Sanofi Securities Class
Litigation
The action charges Sanofi and certain of its current and former officers
with violations of the Securities Exchange Act of 1934. Sanofi is a
French pharmaceutical company that researches, develops and manufactures
prescription pharmaceuticals and vaccines.
The complaint alleges that Sanofi, its Chief Executive Officer (“CEO”),
and its Chief Financial Officer (“CFO”) made false and 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, Sanofi’s media relations department issued a
statement announcing the Company was investing allegations related to
improper kick-back payments to healthcare workers between 2007 and 2012.
On October 29, 2014, Sanofi terminated its CEO, defendant Christopher A.
Viehbacher. On this news, Sanofi’s American Depository Shares (“ADS”)
fell $2.85 per share, or nearly 6 percent, in heavy trading volume, to
close at $45.22 per share. On December 3, 2014, news outlets reported
that a former paralegal at Sanofi had filed a whistleblower lawsuit
against the Company in New Jersey, alleging that CEO Viehbacher and
other executives had engaged in a kickback scheme designed to funnel
tens of millions of dollars in kickbacks to customers in violation of
federal law. This news caused Sanofi’s ADS to fall again, losing $1.36
per share, or almost 3 percent.
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
responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for eleven years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs' bar and that demonstrated unusual dedication and
creativity.” Best Lawyers and U.S. News have also named
Lieff Cabraser as a “Law Firm of the Year” each year the publications
have given this award to law firms.
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
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Copyright Business Wire 2014