Navigation Links
Shareholder Class Action Filed Against Sanofi-Aventis by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
Date:1/3/2008

RADNOR, Pa., Jan. 2 /PRNewswire/ -- The following statement was issued today by the law firm of Schiffrin Barroway Topaz & Kessler, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all purchasers of the securities of Sanofi-Aventis (NYSE: SNY) ("Sanofi" or the "Company") from February 17, 2006 through June 13, 2007, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Barroway Topaz & Kessler, LLP (Darren J. Check, Esq. or Richard A. Maniskas, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@sbtklaw.com.

The Complaint charges Sanofi and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sanofi is a pharmaceutical group engaged in the research, development, manufacture and marketing of healthcare products. More specifically, the Complaint alleges that the Company failed to disclose material adverse data concerning Zimulti's tendency to cause a statistically significant increase in psychiatric problems, including suicidal thoughts and actions.

On June 13, 2007, an Advisory Panel to the Food and Drug Administration ("FDA") unanimously voted that Sanfi had not provided the panel with enough information on the safety of Zimulti (rimonabant), and unanimously recommended that the FDA reject Sanofi's Zimulti application. FDA scientists provided an analysis of 13 studies which showed that 26 percent of patients taking the recommended dose of Zimulti had psychiatric side effects, as compared to 14 percent of those patients who received a placebo. Additionally, studies showed that the drug also doubled cases of anxiety, depression, and other mood disorders when compared to placebo. Analysts had predicted that Zimulti would have been a multibillion-dollar product worldwide, assuming that it was approved in the US, which would have been the biggest market for the drug.

On this news, the Company's securities declined $1.31 per share, or 2.95 percent, to close on June 13, 2007 at $43.07 per share, on unusually heavy trading volume. The following day, the Company's securities declined an additional $1.74 per share, or over 4 percent, also on unusually heavy trading volume, for a two-day decline of $3.05 per share, or over 6.87 percent.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com

If you are a member of the class described above, you may, not later than January 14, 2008, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

CONTACT: Schiffrin Barroway Topaz & Kessler, LLP

Darren J. Check, Esq.

Richard A. Maniskas, Esq.

280 King of Prussia Road

Radnor, PA 19087

1-888-299-7706 (toll free) or 1-610-667-7706

Or by e-mail at info@sbtklaw.com


'/>"/>
SOURCE Schiffrin Barroway Topaz & Kessler, LLP
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
2. CardioDynamics Provides 2007 Shareholder Meeting Update
3. Healthcare Technologies Calls for a Shareholders Meeting to Approve the Nexgen Biofuels Transaction
4. ImmuneRegen BioSciences Files 8-K that Highlights Enclosed Shareholder Letter Discussing Recent Achievements and Outlook
5. Annual General Meeting ("AGM") and Extraordinary General Meeting ("EGM") Notices Posted to Shareholders
6. Shareholder Class Action Filed Against GPC Biotech AG by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
7. Rosetta Genomics Announces Annual General Meeting of Shareholders to be Held on September 24, 2007
8. Pharmos Issues Letter to Shareholders
9. Cell Therapeutics, Inc. (CTI) Announces 2007 Annual Shareholders Meeting Results
10. Shareholder Class Action Filed Against LCA-Vision, Inc. by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
11. Coley Pharmaceutical Group Adopts Shareholder Rights Plan
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... , ... October 12, 2017 ... ... has launched Rosalind™, the first-ever genomics analysis platform specifically designed for life ... Named in honor of pioneering researcher Rosalind Franklin, who made a major ...
(Date:10/11/2017)... ... October 11, 2017 , ... Proscia Inc ., ... a Webinar titled, “Pathology is going digital. Is your lab ready?” with Dr. ... best practices and how Proscia improves lab economics and realizes an increase in ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... has granted orphan drug designation to SBT-100, its novel anti-STAT3 (Signal Transducer and ... of osteosarcoma. SBT-100 is able to cross the cell membrane and bind intracellular ...
(Date:10/10/2017)... DALLAS , Oct. 10, 2017 International research firm ... IoT Strategy, will speak at the TMA 2017 Annual Meeting , ... key trends in the residential home security market and how smart safety ... ... "The ...
Breaking Biology Technology:
(Date:4/5/2017)... KEY FINDINGS The global market ... CAGR of 25.76% during the forecast period of 2017-2025. ... for the growth of the stem cell market. ... MARKET INSIGHTS The global stem cell market is segmented ... The stem cell market of the product is segmented ...
(Date:4/3/2017)...  Data captured by IsoCode, IsoPlexis Corporation,s ... statistically significant association between the potency of ... objective response of cancer patients post-treatment. The ... cancer patients will respond to CAR-T cell ... to improve both pre-infusion potency testing and cell ...
(Date:3/30/2017)... 2017 The research team of The Hong ... fingerprint identification by adopting ground breaking 3D fingerprint minutiae recovery and ... speed and accuracy for use in identification, crime investigation, immigration control, ... ... A research team led ...
Breaking Biology News(10 mins):