Sinovac Biotech Ltd. (formerly NASDAQ: SVA) Investor Notice: Deadline in Lawsuit on October 17, 2022
A Deadline is coming up on October 17, 2022 in the lawsuit for certain investors in Sinovac Biotech Ltd. (formerly NASDAQ: SVA).
Investors who purchased shares of Sinovac Biotech Ltd. (formerly NASDAQ: SVA) have certain options and there are strict and short deadlines running. Deadline: October 17, 2022. Sinovac Biotech Ltd. (formerly NASDAQ: SVA) stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Since January 2016, competing sets of shareholders have been vying for control of Sinovac. The plaintiff says that the Defendants are individuals and entities associated with 1Globe, a family investment office that is owned and controlled by Defendant Jiaqiang Li ("Li"), that Li was Sinovac Biotech Ltd's largest shareholders when 1Globe's Chief Executive Officer made an offer in January 2016 to buy Sinovac for approximately $350 million, that Li supported a competing group that sought to buy Sinovac for a higher price. Rather than provide this support in an open and transparent manner, Li and 1Globe used deceptive practices to advance their position.
The plaintiff claims that after Sinovac Biotech Ltd. adopted the Rights Agreement on March 28, 2016, which contained a "poison pill" that limited the amount of Sinovac Biotech Ltd. stock that a shareholder could acquire, the Defendants made many intentionally false and misleading statements, and violated their statutory disclosure obligations under Section 13(d) of the Securities Exchange Act of 1934 ("Section 13(d)"), in order to conceal the extent and purpose of Li's and 1Globe's ownership of Sinovac stock.
Furthermore, the plaintiff alleges that in addition to misrepresenting the amount of Sinovac stock that Li and 1Globe owned, the Defendants misrepresented their secret plan to act in concert with other shareholders to try to take control of the Company and that while Sinovac Biotech Ltd. knew that Li and 1Globe were acting in concert based on the Company's private communications with them during the battle for control of the Company, this information was not known to public shareholders.
The plaintiff says that the Plaintiff and holders of Sinovac Biotech Ltd. (NASDAQ: SVA) stock between April 11, 2016 and February 22, 2019 that have been caught in the middle of this battle between Sinovac's management and 1Globe for control of the Company and that while Plaintiff and holders of Sinovac Biotech Ltd. (NASDAQ: SVA) stock between April 11, 2016 and February 22, 2019 also seek to receive fair value if Sinovac Biotech Ltd. is taken private, Defendants' behind-the-scenes scheming impeded this effort. Instead, Defendants have caused Plaintiff and holders of Sinovac Biotech Ltd. (NASDAQ: SVA) stock between April 11, 2016 and February 22, 2019 substantial harm by making them lose their ability to collect at least millions of shares that they would have otherwise been entitled to under the Rights Agreement.
The plaintiff claims that the Defendants' intentionally false statements and omissions concerning the true nature of Li's and 1Globe's ownership of Sinovac stock caused the exchange ("Exchange") under the Rights Agreement to be delayed by several years. If Li had fully disclosed his ownership of Sinovac stock, as he was required to do under Section 13(d), it would have been clear as day that the Rights Agreement was triggered by May 2016, at the latest, that while Sinovac knew enough information starting in 2016, largely based on private correspondence, to determine that 1Globe and Li triggered the Rights Agreement, Defendants hid the full extent of their ownership of Sinovac stock and their agreements in connection with the battle for control of the Company, and that the Defendants therefore also tortiously interfered with Sinovac's contractual obligations to its shareholders under the Rights Agreement.
The plaintiff says that if 1Globe and Li's actions were disclosed publicly, as they were required to be under Section 13(d), Plaintiff's rights would have been exercisable based on that public disclosure, and an Exchange would have occurred based on that date, that by misrepresenting the true nature of their ownership of Sinovac stock, Defendants caused that date to be delayed almost three years, until February 22, 2019, resulting in Plaintiff and holders of Sinovac Biotech Ltd. (NASDAQ: SVA) stock between April 11, 2016 and February 22, 2019 losing their rights to acquire additional shares of Sinovac stock for all of their shares that they sold in the interim, that while Sinovac should have implemented the Rights Agreement in 2016 based on the information available to it at the time, 1Globe and Li exacerbated the problem by violating their disclosure obligations under Section 13(d), and that the Defendants caused the value of Sinovac stock to be artificially depressed by preventing the public from accounting for the value of Defendants' stake in Sinovac and their efforts to take control of the Company.
Those who purchased shares of Sinovac Biotech Ltd. (formerly NASDAQ: SVA) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Sinovac Biotech Ltd. (formerly NASDAQ: SVA) Investor Notice: Deadline in Lawsuit on October 17, 2022 here
News-ID: 2758444 • Views: …
More Releases from Shareholders Foundation
Lawsuit for Investors in Sonder Holdings Inc. (NASDAQ: SOND) filed in effort to …
An investor, who purchased shares of Sonder Holdings Inc. (NASDAQ: SOND), filed a lawsuit over alleged violations of Federal Securities Laws by Sonder Holdings Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Sonder Holdings Inc. (NASDAQ: SOND) have certain options and for certain investors are short and strict deadlines running. Deadline: June 10, 2024. NASDAQ: SOND investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com…
Lawsuit filed for Investors in Ocugen, Inc. (NASDAQ: OCGN) in effort to recover …
An investor, who purchased shares of Ocugen, Inc. (NASDAQ: OCGN), filed a lawsuit i over alleged violations of Federal Securities Laws by Ocugen, Inc..
Investors who purchased shares of Ocugen, Inc. (NASDAQ: OCGN) have certain options and for certain investors are short and strict deadlines running. Deadline: June 10, 2024. NASDAQ: OCGN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Malvern, PA based Ocugen, Inc., a…
Investors who lost money with shares of Evolv Technologies Holdings, Inc. (NASDA …
An investor, who purchased shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV), filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp.
Investors who purchased shares of Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) have certain options and for certain investors are short and strict deadlines running. Deadline: May 24, 2024. NASDAQ: EVLV…
Investigation announced for Investors who purchased shares of Comtech Telecommun …
Comtech Telecommunications Corp is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Comtech Telecommunications Corp. (NASDAQ: CMTL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Comtech Telecommunications Corp. regarding its business, its prospects and its operations were materially false…
More Releases for Sinovac
Human Vaccine Market SWOT Analysis by Key Players : Unilab, Sinovac, Merck, Nova …
Global Human Vaccine Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global Human Vaccine…
H7N9 Vaccines Market Swot Analysis by Key Players Novavax, Hualan Bio, Sinovac
Global H7N9 Vaccines Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) is latest research study released by HTF MI evaluating the market, highlighting opportunities, risk side analysis, and leveraged with strategic and tactical decision-making support. The study provides information on market trends and development, drivers, capacities, technologies, and on the changing investment structure of the Global H7N9 Vaccines…
Global Flu Shots Market 2018-2025 Gsk, Sinovac, Changsheng, Ccbio
A market study "Global Flu Shots Market" examines the performance of the Flu Shots market 2018. It encloses an in-depth Research of the Flu Shots market state and the competitive landscape globally. This report analyzes the potential of Flu Shots market in the present and the future prospects from various angles in detail.
The Global Flu Shots Market 2018 report includes Flu Shots market Revenue, market Share, Flu Shots industry volume,…
Global H7N9 Vaccines Market 2018 - Novavax, Hualan Bio, Sinovac, North Carolina …
Apex Market Reports, recently published a detailed market research study focused on the “H7N9 Vaccines Market” across the global, regional and country level. The report provides 360° analysis of “H7N9 Vaccines Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of H7N9 Vaccines on…
Global Hepatitis A Vaccine, Inactivated Market 2018 - GlaxoSmithKline, Merck, Sa …
Apex Market Reports, recently published a detailed market research study focused on the “Hepatitis A Vaccine, Inactivated Market” across the global, regional and country level. The report provides 360° analysis of “Hepatitis A Vaccine, Inactivated Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend…
Global Influenza Vaccine Market 2017 - GSK, Sinovac, Changsheng, Vaxtec
Apex Market Reports, recently published a detailed market research study focused on the "Influenza Vaccine Market" across the global, regional and country level. The report provides 360° analysis of "Influenza Vaccine Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Influenza Vaccine industry, and estimates the future trend of Influenza Vaccine market…