Farooqui & Farooqui, Securities Litigation Partners LLP James (Josh) Wilson He encourages investors who have suffered losses exceeding $100,000 at AstraZeneca to contact him directly to discuss their options
If you suffer losses exceeding $100,000 AstraZeneca (NASDAQ:) Between February 23, 2022 and December 17, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
(You can also click here for additional information)
New York, New York–(Newsfile Corp. – January 4, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against AstraZeneca PLC (LON:) (“AstraZeneca” or the “Company “” ) (NASDAQ: AZN) and reminds investors of February 21, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose (1) AstraZeneca's involvement in insurance fraud in China; (2) as a result, AstraZeneca faced increased legal exposure in China, which ultimately resulted in the President of AstraZeneca China being detained by Chinese law enforcement authorities; (3) as a result, AstraZeneca reduced its legal risks; (4) the foregoing, once disclosed, could materially harm AstraZeneca's business activities in China; and (5) as a result, Defendants' statements about their business, operations, and future prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On October 30, 2024, AstraZeneca announced that Leon Wang, Executive Vice President International and President of AstraZeneca China, is “cooperating with the ongoing investigation by Chinese authorities.”
On this news, AstraZeneca's American Depositary Shares (“ADS”) fell 3.1% on October 30, 2024.
Then, on November 5, 2024, Yicai Global published an article titled “AstraZeneca Insurance Fraud Involves Dozens of Top China Executives, Source Says.” “Dozens of senior AstraZeneca China executives were involved in an ongoing insurance fraud case as of last week, according to a person familiar with the matter,” the article said. Furthermore, he stated that “over the past three years, cases of insurance fraud involving AstraZeneca have surfaced in Shenzhen as well as in Fujian and Jiangxi provinces. (…) These cases amount to the largest insurance fraud in the country.” . The pharmaceutical sector for years, a person familiar with the matter noted.
On this news, AstraZeneca advertising fell another 7.2% on November 5, 2024.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding AstraZeneca's conduct to contact the company, including whistleblowers, former employees, shareholders and others.
Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236013
