SciClone Shells Out $2.5M To Investors Amid FCPA Probes

Law360, New York (October 12, 2011, 1:52 PM EDT) -- SciClone Pharmaceuticals Inc. said Wednesday that it had agreed to pay $2.5 million and make corporate governance changes to settle three consolidated shareholder derivative lawsuits accusing its officers and directors of bribing Chinese officials for business.

A California state judge gave preliminary approval of the agreement between SciClone and lead plaintiff Construction Industry and Laborers Joint Pension Trust. A hearing will be held Dec. 6 before the judge grants final approval.

The lawsuits, filed in September 2010, followed news that the U.S. Department of Justice and...
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