Lieff Cabraser Reminds Sanofi Investors of Upcoming Deadline in Class Action Litigation – GCVRZ
January 17 2014 - 9:00AM
Business Wire
Lieff, Cabraser, Heimann & Bernstein, LLP reminds investors
of the February 10, 2014 deadline to move for appointment as lead
plaintiff in the securities class litigation brought on behalf of
purchasers of the Contingent Value Rights (“CVRs”) of Sanofi
(“Sanofi” or the “Company”) (NasdaqGM: GCVRZ) between March 6, 2012
and November 7, 2013, inclusive (the “Class Period”).
If you purchased the CVRs of Sanofi during the Class Period, you
may move the Court for appointment as lead plaintiff by no later
than February 10, 2014. 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.
Sanofi is a global pharmaceutical group engaged in the research,
development, manufacturing and marketing of healthcare
products.
The complaints allege that throughout the Class Period, Sanofi
and certain of its senior executives made false and misleading
statements and failed to disclose material adverse facts about the
Company’s business, operations, and prospects, in violation of
federal securities laws. Specifically, the complaints allege that
defendants misrepresented the safety and efficacy of Lemtrada, a
treatment for multiple sclerosis (“MS”). Defendants also misled
investors about the design of two pivotal Lemtrada trials by
failing to disclose that the trials contained high levels of
placebo effect and observer bias, which tainted the results and
thereby lowered the likelihood of approval by the Food and Drug
Administration (the “FDA”).
On November 8, 2013, the FDA Advisory Committee on Peripheral
and Central Nervous System Drugs issued a briefing report in
advance of its November 13, 2013 hearing, finding that “significant
concerns exist regarding the safety profile of alemtuzumab
[Lemtrada] and the adequacy of the efficacy data.” On this news,
Sanofi’s CVRs declined $1.23 per share, or nearly 62%, to close at
$0.77 per share on November 8, 2013 on unusually high trading
volume.
About Lieff Cabraser
Lieff Cabraser is a nationally recognized law firm committed to
advancing the rights of investors and promoting corporate
responsibility.
Since 2003, the National Law Journal has selected Lieff Cabraser
as one of the top plaintiffs’ law firms in the nation.
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
Lieff Cabraser Heimann & Bernstein, LLPSharon M. Lee,
415-956-1000
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