SANOFI CONTINGENT VALUE RIGHTS SHAREHOLDERS: The Alexander Firm P.C.
Announces Upcoming Lead Plaintiff Deadline in Class Action Lawsuit Filed on
Behalf of Sanofi Contingent Value Rights Investors
LOS ANGELES -- January 28, 2014
The Alexander Firm P.C., A Professional Law Corporation, announces that
investors of Sanofi Contingent Value Rights (“Sanofi” or the “Company”)
(NASDAQ: GCVRZ) have until February 10, 2014, to move the Court to serve as
Lead Plaintiff in the securities class action lawsuit filed in the United
States District Court, Southern District of New York, on behalf of a class
(the “Class”) consisting of all persons or entities who purchased or otherwise
acquired the Contingent Value Rights (“CVRs”) of Sanofi between March 6, 2012
and November 7, 2013, inclusive (the “Class Period”).
Sanofi is a global healthcare company which is engaged in the research,
development, manufacture and marketing of healthcare products, including
pharmaceuticals and vaccines. Sanofi’s multiple sclerosis therapy, Lemtrada™
(alemtuzumab), has completed two Phase III clinical studies and is under
review for U.S. Food and Drug Administration (“FDA”) marketing approval in the
U.S. and Europe. The Complaint alleges that defendants violated federal
securities laws because they knew or recklessly disregarded, but failed to
disclose, that: (a) defendants had materially misrepresented the safety and
efficacy of Lemtrada in statements to investors and the public; (b) the design
of the Lemtrada trials contained high levels of placebo effect and observer
bias, which tainted the results and lowered the likelihood of FDA approval;
(c) the Company lacked adequate internal controls; and (d) defendants lacked a
reasonable basis for their positive statements about Lemtrada and its
On November 8, 2013, a report prepared ahead of a FDA advisory panel meeting
noted “serious and potentially fatal” risks of autoimmune diseases including
“blood disorders, infections and cancer.” The FDA staff did not recommend
approval of Lemtrada “unless substantial clinical benefit exists.” Following
this news, Sanofi CVRs dropped more than 60%, to a closing price of $0.77 per
share on November 8, 2013, on extremely heavy trading volume.
If you are a member of the Class described above, you have until February 10,
2014, to move the Court for Lead Plaintiff status. If you purchased or
acquired Sanofi CVRs during, or prior to, the Class Period and wish to learn
more concerning your rights or interests with respect to these matters, please
contact Vahn Alexander, Esq., The Alexander Firm P.C., A Professional Law
Corporation, 1875 Century Park East, Suite 700, Los Angeles, California 90067,
by telephone at (310) 407-5335, or by email to email@example.com, or
visit our website at www.alexanderfirmpc.com. To be a member of the Class you
need not take any action at this time or may retain counsel of your choice.
This press release may be considered Attorney Advertising in some
The Alexander Firm P.C., A Professional Law Corporation.
Vahn Alexander, Esq.
Telephone: (310) 407-5335
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