Lieff Cabraser Reminds Sanofi Investors of Upcoming Deadline in Class Action
Litigation – GCVRZ
SAN FRANCISCO -- January 17, 2014
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, LLP
Sharon M. Lee, 415-956-1000
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