The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Sinovac Biotech Ltd. (NASDAQ: SVA) who purchased shares between April 30, 2013 and May 16, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) Defendant Weidong Yin, Sinovac’s Chairman and CEO, bribed a member of the Chinese Food and Drug Administration to assist Sinovac’s vaccine clinical trial and approval; (2) Yin's conduct would subject Sinovac to heightened regulatory scrutiny; and (3) subsequently, Sinovac’s public statements were materially false and misleading at all relevant times.
Shareholders have until September 1, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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