Faruqi & Faruqi, LLP is investigating the claims on behalf of investors AstraZeneca By Investing.com
Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson He encourages investors who have suffered losses of more than $100,000 in AstraZeneca to contact him directly to discuss their options
If you have suffered losses greater than $100,000 in AstraZeneca (NASDAQ:) between February 23, 2022 and December 17, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).
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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 The deadline is February 21, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi 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 inception in 1995. See www.faruqilaw.com.
As set forth 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 that (1) AstraZeneca engaged in insurance fraud in China; (2) as a result, AstraZeneca faced increased legal exposure in China, which ultimately resulted in the detention of the President of AstraZeneca China by Chinese law enforcement authorities; (3) as a result, AstraZeneca underestimated its legal risks; (4) the foregoing, if disclosed, could materially harm AstraZeneca’s business activities in China; and (5) as a result, the defendant’s statements about the business, operations and 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, was “cooperating with the ongoing investigation by Chinese authorities.”
Following 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 Senior Executives in China, Source Says.” This article states that “[d]dozens of senior executives at AstraZeneca China have been implicated in an ongoing insurance fraud case since last week, according to a person familiar with the matter.” It further stated that “[o]in the past three years, insurance fraud cases involving AstraZeneca have emerged in Shenzhen, as well as Fujian and Jiangxi provinces. [. . .] These cases represent the biggest insurance fraud in the pharmaceutical sector in the country for years, said a person familiar with the matter.”
Following this news, AstraZeneca ADSs fell a further 7.2% on November 5, 2024.
A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about AstraZeneca’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.
Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the original version of this press release, visit https://www.newsfilecorp.com/release/236013
