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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!