Navigation Links
Shareholder Class Action Filed Against Sanofi-Aventis by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP

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

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

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

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:
(Date:11/24/2015)... , Nov. 24, 2015 Halozyme Therapeutics, Inc. (NASDAQ: ... Conference in New York on Wednesday, December ... Helen Torley , president and CEO, will provide a corporate overview. ... New York at 1:00 p.m. ET/10:00 a.m. PT . ... investor relations, will provide a corporate overview. --> th ...
(Date:11/24/2015)... Global, Inc., a worldwide provider of clinical research services headquartered in ... company has set a new quarterly earnings record in Q3 of ... for Q3 of 2014 to Q3 of 2015.   ... with the establishment of an Asia-Pacific office ... Kingdom and Mexico , with the ...
(Date:11/24/2015)... , November 24, 2015 ... recent market research report released by Transparency Market Research, ... expand at a CAGR of 17.5% during the period ... Testing Market - Global Industry Analysis, Size, Volume, Share, ... global non-invasive prenatal testing market to reach a valuation ...
(Date:11/24/2015)... ... November 24, 2015 , ... InSphero AG, the leading supplier of easy-to-use ... promoted Melanie Aregger to serve as Chief Operating Officer. , Having joined ... management team and was promoted to Head of InSphero Diagnostics in 2014. ...
Breaking Biology Technology:
(Date:11/16/2015)... , Nov 16, 2015  Synaptics Inc. (NASDAQ: ... interface solutions, today announced expansion of its TDDI ... touch controller and display driver integration (TDDI) ... smartphones. These new TDDI products add to the ... resolution), TD4302 (WQHD resolution), and TD4322 (FHD resolution) ...
(Date:11/12/2015)... LONDON , Nov. 11, 2015   ... and reliable analytical tools has been paving the ... and qualitative determination of discrete analytes in clinical, ... sensors are being predominantly used in medical applications, ... and environmental sectors due to continuous emphasis on ...
(Date:11/10/2015)... About signature verification Signature ... identify and verify the identity of an individual ... secure and accurate method of authentication and is ... because each individual,s signature is highly unique. Signature ... signature of an individual is compared and matched ...
Breaking Biology News(10 mins):