Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 2, 2015 to file lead plaintiff applications in a securities class action lawsuit against Sanofi SNY, -0.34% if they purchased the Company's securities between February 7, 2013 and December 3, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Sanofi and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 2, 2015.
About the Lawsuit
Sanofi and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 6, 2014, Sanofi announced that it was investigating allegations related to improper payments to healthcare workers. Following that announcement, on October 29, 2014, Sanofi disclosed that it had terminated its CEO Christopher A. Viehbacher. Then, on December 3, 2014, it was reported that a whistleblower lawsuit against Sanofi was filed by a former paralegal alleging that Viehbacher and other Sanofi executives conducted a scheme in violation of federal law to funnel tens of millions of dollars in kickbacks and other incentives to get the company's diabetes drugs prescribed and sold. The lawsuit also alleges that Viehbacher was fired in part because he was involved in the kickback scheme.
Following this news, Safoni's stock price plummeted.