ROSEN, RESPECTED INVESTOR ADVISOR, encourages investors of Sinovac Biotech Ltd. suffering losses at … | New

NEW YORK, Sept. 01, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds sellers of Sinovac Biotech Ltd. shares. (NASDAQ: SVA) between April 11, 2016 and February 22, 2019, both dates inclusive (the “Class Action Period”), from the October 17, 2022 deadline for lead plaintiff in the lawsuit against 1Globe Capital LLC and some of its leaders.

THEN: If you sold securities of Sinovac during the Class Period, you may be entitled to compensation without payment of fees or out-of-pocket expenses through a contingent fee arrangement.

WHAT TO DO NEXT: To join the Sinovac class action, go to https://rosenlegal.com/submit-form/?case_id=8179 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as a lead plaintiff, you must move the Court no later than October 17, 2022. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.

WHY ROSEN LAW: We encourage investors to select qualified lawyers with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Many of these firms do not actually handle securities class action lawsuits, but are merely middlemen who refer clients or partner with law firms that actually litigate the cases. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.

CASE DETAILS: According to the lawsuit, defendants’ intentional misrepresentations and omissions regarding the true nature of 1Globe, a family investment office owned and controlled by defendant Jiaqiang Li, and Li’s ownership of Sinovac shares caused the exchange, under the March 28, 2016 Rights Agreement which included a “poison pill” limiting the number of Sinovac shares a shareholder could acquire, to be delayed for several years. Had Li fully disclosed his ownership of Sinovac shares, as he was required to do under Section 13(d), it would have been clear that the rights agreement was triggered by May 2016, at the latest. . While Sinovac knew enough information from 2016, largely based on private correspondence, to determine that 1Globe and Li triggered the rights agreement, the defendants hid their entire ownership of Sinovac’s stock and their deals as part of the battle for control of the company. . Defendants therefore also tortiously interfered with Sinovac’s contractual obligations to its shareholders under the rights agreement.

Also according to the lawsuit, if the shares of 1Globe and Li had been publicly disclosed, as they were required to be under section 13(d), the shareholders’ rights could have been exercised on the basis of such public disclosure, and an exchange would have taken place on that basis. Date. By misrepresenting the true nature of their ownership of the Sinovac shares, the defendants delayed that date by almost three years, until February 22, 2019, which caused the group to lose its right to acquire additional shares of Sinovac for all their shares they sold meanwhile. While Sinovac should have implemented the Rights Agreement in 2016 based on the information it had at the time, 1Globe and Li exacerbated the problem by violating their disclosure obligations under Article 13( d). In addition, the defendants caused an artificial decline in the value of Sinovac’s shares by preventing the public from accounting for the value of the defendants’ stake in Sinovac and their efforts to take control of the company.

To join the Sinovac class action, go to https://rosenlegal.com/submit-form/?case_id=8179 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.

No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent group member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.

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Contact information:

Laurence Rosen, Esq.

Phillip Kim, Esq.

The Rosen Law Firm, Pennsylvania

275 Madison Avenue, 40th Floor

New York, NY 10016

Tel: (212) 686-1060

Toll Free: (866) 767-3653

Fax: (212) 202-3827

[email protected]

[email protected]

[email protected]

www.rosenlegal.com

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