The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the February 2, 2015 deadline to move for appointment as lead plaintiff in the securities class action litigation brought on behalf of investors who purchased or otherwise acquired the securities of 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 should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.
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 manufacturers 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 the Company was making improper payments to healthcare professionals in connection with the sale of pharmaceutical products in violation of federal law.
On October 6, 2014, Sanofi announced that 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 the Company had filed a whistleblower lawsuit against Sanofi, alleging that CEO Viehbacher and other executives had engaged in a kickback scheme designed to funnel tens of millions of dollars to customers in violation of federal law. On this news, Sanofi’s ADS fell another $1.36 per share to close at $46.75 on December 4, 2014.
About Lieff Cabraser
Lieff Cabraser is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.
For eleven years, the National Law Journal has selected Lieff Cabraser as one of the top plaintiffs’ law firms in the nation. 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.
Contacts:
Sharon M. Lee,
415-956-1000
