Chinese Vaccine Co. Sues 'Dissident' Shareholders Over Coup

Law360, Boston (March 5, 2018, 11:03 PM EST) -- Sinovac Biotech Ltd. on Monday sued its largest shareholders in Massachusetts federal court, saying they overthrew its board of directors in an allegedly illegal coup at an annual meeting last month.

Alongside the suit, the Beijing-based biopharmaceutical company known for its hepatitis and flu vaccinations announced in a news release that it has decided not to recognize the clandestine actions of its "dissident shareholders."

A wealthy Cambridge family and their investment fund, 1Globe Capital LLC, submitted surprise ballots that outweighed all other voters on Feb. 6, Sinovac said in its complaint.

The Chiang Li family allegedly supplanted the board with a...

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