SciClone Hit With Shareholder Suit Amid DOJ, SEC Probe

Law360, New York (September 8, 2010, 4:00 PM EDT) -- SciClone Pharmaceuticals Inc., already the target of U.S. Department of Justice and Securities and Exchange Commission investigations, now faces a class action for allegedly making false and misleading statements to inflate the price of its stock.

The stockholders who filed the complaint Tuesday in the U.S. District Court for the Northern District of California claim the company misrepresented its operating condition and future business prospects by failing to disclose that sales growth and revenue reported in SEC filings and press releases were the product of wrongful...
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