San Diego, CA -- (SBWire) -- 06/01/2017 --An investigation was announced for investors in shares of Sinovac Biotech Ltd. over potential breaches of fiduciary duties by certain Sinovac Biotech directors.
Investors who purchased shares of Sinovac Biotech Ltd. (NASDAQ:SVA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Sinovac Biotech Ltd. directors breached their fiduciary duties and caused damage to the company and its shareholders.
On December 21, 2016, a report was published disclosing that Sinovac's Chairman and CEO, Weidong Ying, had allegedly paid bribes to Yin Hongzhang, the Deputy Director General of the Center for Drug Evaluation for the China Food and Drug Administration, to help procure and pass drug applications and evaluations.
On May 16, 2017, Sinovac Biotech Ltd. disclosed that the SEC staff is conducting an enforcement inquiry related to the matters discussed in the article and that the SEC staff subsequently issued a subpoena requesting documents related to the internal investigation.
Shares of Sinovac Biotech Ltd. (NASDAQ:SVA) closed on May 31, 2017, at $5.33 per share.
Those who purchased shares of Sinovac Biotech Ltd. (NASDAQ:SVA) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Investor Investigation over Potential Wrongdoing at Sinovac Biotech Ltd. (NASDAQ:SVA)
An investigation on behalf of investors in Sinovac Biotech Ltd. (NASDAQ:SVA) shares over potential wrongdoing at Sinovac Biotech Ltd. was announced.