This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lieff Cabraser Heimann & Bernstein, LLP Announces Class Action Lawsuits Against SciClone Pharmaceuticals, Inc.

The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action lawsuits have been brought on behalf of purchasers of the common stock of SciClone Pharmaceuticals, Inc. (“SciClone”) (Nasdaq:SCLN) between May 11, 2009 and August 10, 2010, inclusive (“Class Period”).

If you purchased SciClone common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than October 12, 2010. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in this action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in this action.

SciClone shareholders that wish to learn more about this action and how to seek appointment as lead plaintiff should visit Lieff Cabraser’s website at or contact attorney Sharon Lee toll free at (800) 541-7358.

Background on SciClone Securities Class Litigation

The actions, pending in the United States District Court for the Northern District of California, were brought against SciClone and certain of its officers for violations of the Securities Exchange Act of 1934. SciClone, headquartered in Foster City, California, is engaged in the development and commercialization of therapeutics for the treatment of cancer and infectious diseases.

The complaints in the above-mentioned actions allege that during the Class Period, defendants failed to disclose that SciClone engaged in illegal and improper sales and marketing activities in China and elsewhere. In addition, the actions allege that defendants failed to disclose that SciClone’s financial results and business prospects during the Class Period were attributable, in part, to the wrongful conduct.

On August 9, 2010, after the close of trading, SciClone disclosed that the Securities and Exchange Commission had initiated a formal investigation of the Company and requested information relating to matters including interactions with regulators and government-owned entities in China, activities relating to sales in China and documents relating to certain Company disclosures. SciClone also disclosed that the Department of Justice had received information about the Company’s practices that suggested violations of the Foreign Corrupt Practices Act. On this news, the price of SciClone common stock fell $1.03 per share, or approximately 29 percent, from its closing price on August 9, 2010 to close at $2.48 per share on August 10, 2010, on unusually high trading volume.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
SCLN $13.73 0.00%
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs