CASES
SciClone Pharmaceuticals, Inc. (2010)
Class Period: May 11, 2009 to Aug 10, 2010
Lead Plaintiff Deadline: Oct 12, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against SciClone Pharmaceuticals, Inc. (2010) (SCLN) (the "Company") on behalf of all securities purchasers from May 11, 2009 through August 10, 2010, inclusive ("Class Period"), in the United States District Court for the Northern District of California.
The complaint alleges that throughout the Class Period, defendants were engaged in illegal and improper sales and marketing activities in China and abroad regarding its products. This ultimately caused SciClone Pharmaceuticals, Inc. (the "Company") to become the focus of a joint investigation by the Securities and Exchange Commission ("SEC") and the Department of Justice ("DOJ") for possible violations of the Foreign Corrupt Practices Act ("FCPA"). It was only at the end of the Class Period, however, that investors ultimately learned the truth about the Company's operations after it was reported that the SEC and DOJ were investigating the Company for violations of the FCPA. At that time, shares of the Company declined almost 40% in the single trading day, on abnormally large trading volume.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.