BENSALEM, Pa. -- (Business Wire)
Law
Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Southern District
of New York on behalf of purchasers of the securities of Sanofi (the
“Company”) (NYSE:SNY) 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 issued a statement announcing 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 have until
February 2, 2015, to move the Court 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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