BENSALEM, Pa. -- (Business Wire)
Law
Offices of Howard G. Smith reminds investors that purchasers of the
securities of Sanofi (the “Company”) (NYSE:SNY) have until February 2,
2015, to file a motion to be appointed as lead plaintiff in the
shareholder lawsuit filed in the United States District Court for the
Southern District of New York. The class action lawsuit asserts claims
on behalf of purchasers of Sanofi securities between February 7, 2013
and December 3, 2014, inclusive (the “Class Period”).
Sanofi is engaged in the discovery, development and distribution of
therapeutic solutions, including consumer health care products,
pharmaceuticals and vaccines used by veterinarians and generic
medicines. The lawsuit alleges that defendants misrepresented 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, and that Sanofi’s internal controls over
financial reporting were inadequate.
On October 6, 2014, Sanofi announced that the Company was investigating
allegations related to improper payments to healthcare workers in
connection with the sale of pharmaceutical products that may have
occurred between 2007 and 2012 in certain parts of the Middle East and
East Africa. Then, on October 29, 2014, Sanofi announced that its Board
of Directors had decided to terminate Christopher A. Viehbacher from his
position as Chief Executive Officer of Sanofi.
On December 3, 2014, media outlets reported that a former Sanofi
employee filed a whistleblower lawsuit in New Jersey against the
Company, alleging that the recently ousted CEO and other executives at
the Company participated in a scheme “over the course of many years” to
funnel tens of millions of dollars in kickbacks and other incentives to
get the Company’s diabetes drugs prescribed and sold.
If you are a member of the Class described above, you may move the Court
no later than February 2, 2015, to serve as lead plaintiff, if you meet
certain legal requirements. To be a member of the Class, you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish to
learn more about this action, please contact Howard G. Smith, Esquire,
of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free
at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Contacts:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
(215)
638-4847
(888) 638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Source: Law Offices of Howard G. Smith
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