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Name | Symbol | Market | Type |
---|---|---|---|
Sanofi | NASDAQ:GCVRZ | NASDAQ | Right |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.8711 | 0.87 | 5.95 | 0 | 01:00:00 |
The law firm of Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating Sanofi ("Sanofi" or the "Company"), concerning whether the Company made false and misleading statements and failed to disclose that: (a) Sanofi had materially misrepresented the safety and efficacy of Lemtrada in public statements to investors; (b) the design of the Lemtrada 323 and 324 trials had been materially misrepresented to investors; (c) Sanofi lacked adequate internal controls; and (d) Sanofi lacked a reasonable basis for its positive statements about Lemtrada and its prospects.
On February 16, 2011, Sanofi agreed to acquire Genzyme Corporation ("Genzyme"). In connection with the Genzyme acquisition, Sanofi agreed to amend the outstanding tender offer to acquire all of the outstanding shares of common stock of Genzyme, increasing the price per share from $69.00 to $74.00 in cash plus one contingent value right to be issued by Sanofi, per Genzyme Share.
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. The briefing report criticized the Company's submission to the FDA, and found that significant concerns existed regarding the safety profile of Lemtrada and the adequacy of the efficacy data. On this news, Sanofi's Contingent Value Rights declined $1.23 per share, or nearly 62%.
Please contact us if you were a purchaser of Sanofi Contingent Value Rights (NASDAQ GM: GCVRZ), between March 6, 2012 and November 7, 2013, inclusive, and wish to discuss this matter with us. There is no cost to stockholders.
Wolf Haldenstein has represented individual and institutional investors for many years, serving as lead counsel in numerous cases in United States federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm. For further information on this matter: please click here.
Gregory M. Nespole, Esq.Wolf Haldenstein Adler Freeman & Herz LLP270 Madison AvenueNew York, New York 10016
Phone Numbers:(800) 575-0735(212) 545-4657(917) 515-6161
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Wolf Haldenstein Adler Freeman & Herz LLPGregory M. Nespole, Esq.800-575-0735212-545-4657917-515-6161
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