The law firm of Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., announce the commencement of an investigation into SciClone Pharmaceuticals, Inc. ("SciClone " or the "Company") (Nasdaq: SCLN) to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders.
Shares of SciClone plunged 32% to $2.40, the day after it revealed that it is under investigation by the Securities and Exchange Commission and the U.S. Justice Department over certain business dealings in China. Late Monday, SciClone revealed that the Securities and Exchange Commission has informed the company it is under formal investigation. In addition, the U.S. Justice Department is investigating whether the company has complied with the Foreign Corrupt Practices Act.
If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Director of Client Relations, Neil Rothstein, Esq. (
), toll free at 877-694-9510, or via cell phone 330-860-4092, or KSF Managing Partner, Lewis Kahn (
), toll free 1-866-467-1400, ext. 200, after hours via cell phone 504-301-7900. KSF attorneys have significant experience in representing both institutional and individual shareholders in securities fraud litigation nationwide. KSF encourages both institutional and individual purchasers of SciClone to contact the firm to discuss the investigation.
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