SHAREHOLDER ALERT: Investors in Sanofi Contingent Value Rights Are Encouraged To Contact Wolf Haldenstein
20 12월 2013 - 1:12AM
Business Wire
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
Attorney Advertising
Wolf Haldenstein Adler Freeman & Herz LLPGregory M. Nespole,
Esq.800-575-0735212-545-4657917-515-6161
Sanofi (NASDAQ:GCVRZ)
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