NEW YORK--(BUSINESS WIRE)-- Levi & Korsinsky is investigating SciClone Pharmaceuticals, Inc. (“SciClone” or the “Company”) (NASDAQ:SCLN) for potentially violating state and federal securities laws by issuing false and misleading statements to its shareholders. Concerned shareholders should contact Joseph Levi at 877-363-5972 or by email at [email protected] for more information. All inquires will be kept in the strictest of confidence.
On August 9, 2010, SciClone revealed that the Securities and Exchange Commission has initiated a formal probe over certain business dealings in China. SciClone has also been contacted by the Department of Justice, which requested that the Company meet with them regarding its compliance with the Foreign Corrupt Practices Act (“FCPA”). On this news, shares of SciClone plunged 29% to $2.48. The FCPA prohibits a company from making illicit payments to foreign officials to obtain a business advantage.
If you purchased the common stock of SciClone and would like to discuss this action, or if you have any questions concerning your rights as a potential class member, please contact Joseph Levi either via email at [email protected] or by telephone at 877-363-5972, or visit http://www.zlk.com/sciclone-class-action.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
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INDUSTRY KEYWORDS: Health Pharmaceutical Professional Services Legal