Kendall Law Group, a national securities firm led by a former federal judge Joe Kendall with attorneys that include a former U.S. Attorney, is investigating SciClone Pharmaceuticals, Inc. (NASDQ: SCLN) for shareholders. The investigation concerns potential breaches of fiduciary duties by the board of directors and other company executives in connection with ongoing investigations into potential violations of the Foreign Corrupt Practices Act (FCPA). Concerned SciClone shareholders should contact the Kendall Law Group at 877-744-3728 or by email at [email protected].
“range of matters including interactions with regulators and government-owned entities in China, activities relating to sales in China and documents relating to certain company financial and other disclosures.”
On August 5, 2010 SciClone was informed by the Securities and Exchange Commission (SEC) that a formal, non-public investigation of SciClone had been initiated. The SEC issued a subpoena requesting documents and other information related to a "range of matters including interactions with regulators and government-owned entities in China, activities relating to sales in China and documents relating to certain company financial and other disclosures." On August 6, 2010, SciClone received a letter from the Department of Justice (DOJ) indicating that the DOJ, which was already investigating FCPA issues in the pharmaceutical industry generally, had received information about the Company's practices suggesting possible violations. SciClone disclosed the investigations on August 9, 2010, and the following day SciClone's stock prices fell approximately 30%.
Kendall Law Group has the credentials and experience to pursue any type of complex securities litigation in the nation. The firm helps shareholders exercise their power to protect their investments when companies break the law. If you are a SciClone shareholder, you are encouraged to contact the Kendall Law Group to learn more about your rights.