Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/scln) have a class action lawsuit filed in the United States District Court for the Northern District of California on behalf of purchasers of SciClone Pharmaceuticals securities between May 11, 2009 and August 10, 2010.
SciClone develops therapeutics for the treatment of cancer and infectious diseases in China and internationally. The Complaint alleges the defendants were engaged in illegal and improper sales and marketing activities in China and abroad regarding its products.
The activities eventually caused SciClone to become the focus of a joint investigation by the SEC and the Department of Justice for possible violations of the Foreign Corrupt Practices Act.
Investors didn’t learn about the Company’s operations until it was reported the SEC and DOJ were investigating the Company for violations of the Act, and then Company shares declined almost 40% in one day, on abnormally large trading volume.
For more information about the case or to participate online, visit: www.rmclasslaw.com/cases/scln,
or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or
by e-mail at rmaniskas@rmclasslaw.com.
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