STEVENSON, Md. -- (Business Wire)
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 Southern District of New York
on behalf of purchasers of Sanofi (“Sanofi” or the “Company”) (NYSE:
SNY) securities during the period between February 7, 2013 and December
3, 2014, inclusive (the “Class Period”). Investors who wish to become
proactively involved in the litigation have until February 2, 2015 to
seek appointment as lead plaintiff.
If you have suffered a loss from investment in Sanofi securities
purchased on or after February 7, 2013 and held through the revelation
of negative information during and/or at the end of the Class Period, as
described below, 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. No class has yet been certified in
the above action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the 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 and how much of a
settlement to accept for the Class in the action. The lead plaintiff
will be selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower Pivenalso 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.
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 CEO Christopher A. Viehbacher and other
Sanofi executives conducted a scheme in violation of federal law to
funnel tens of millions of dollars in kickbacks and other incentives to
get the company’s diabetes drugs prescribed and sold. According to the
complaint, following the Company’s October 6, 2014 announcement that it
was investigating allegations related to improper payments to healthcare
workers, the Company disclosure on October 29, 2014 that it had
terminated Viehbacher, and the December 3, 2014 report that a
whistleblower lawsuit against Sanofi was filed by a former paralegal
alleging the kickback scheme and that Viehbacher was fired in part
because he was involved in that scheme, the value of Sanofi shares
declined significantly.
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.
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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