STEVENSON, Md., Aug. 22, 2017 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the
District of New Jersey on behalf of purchasers of Sinovac Biotech Ltd. (Nasdaq:SVA) (“Sinovac” or the “Company”) securities during
the period between April 30, 2013 and May 16, 2017, inclusive (the “Class Period”). Investors who wish to become proactively
involved in the litigation have until September 1, 2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and
be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including
whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in Sinovac securities during the Class Period. Members of the class will be
represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above
action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that the Chairman and Chief Executive Officer Weidong Yin bribed a member
of the Chinese Food and Drug Administration to assist Sinovac’s vaccine clinical trial and approval and that conduct would subject
the Company to heightened regulatory scrutiny.
According to the complaint, following a December 21, 2016 report regarding the bribe, a December 23, 2016
announcement that the Company was commencing an internal investigation, a May 1, 2017 announcement that the Company’s annual report
will be delayed, and a May 16, 2017 announcement that the U.S. Securities and Exchange Commission commenced an enforcement inquiry,
the value of Sinovac shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in Sinovac securities purchased on or after
April 30, 2013 and held through the revelation of negative information during and/or at the end of the Class Period and would like
to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please
visit our website at http://www.browerpiven.com/currentsecuritiescases.html. You may also request more
information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Brower Piven also
encourages anyone with information regarding the Company’s conduct during the period in question to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and
have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at
this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation 1925 Old Valley Road Stevenson, Maryland 21153 Telephone: 410-415-6616 hoffman@browerpiven.com
