Lieff Cabraser Announces Class Action Litigation Against Sanofi – SNY

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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts:

Source/Contact for Media Inquiries Only:
Lieff Cabraser Heimann & Bernstein, LLP
Sharon M. Lee, 1-800-541-7358

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