StockNews.AI
AZN
StockNews.AI
216 days

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of AstraZeneca

1. Faruqi & Faruqi investigates AstraZeneca for securities fraud claims. 2. Investors must file by February 21, 2025, to join the class action. 3. Insurance fraud in China involves senior AstraZeneca executives, raising legal risks. 4. AZN shares fell 3.1% after executive's detention; dropped further 7.2% following news. 5. The fraud could materially harm AstraZeneca's operations in China.

7m saved
Insight
Article

FAQ

Why Very Bearish?

Legal issues and fraud allegations typically lead to share price declines, as seen with other companies facing similar crises.

How important is it?

Significant legal exposure and potential operational impacts in a key market make this highly relevant.

Why Short Term?

Immediate investor reaction expected due to ongoing investigations and litigation timelines.

Related Companies

AZNJNJPFEMRK
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In AstraZenecaTo Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $100,000 in AstraZeneca between between February 23, 2022 and December 17, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information], /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against AstraZeneca PLC ("AstraZeneca" or the "Company") (NASDAQ: AZN) and reminds investors of the Feb. 21, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi Logo (PRNewsfoto/Faruqi & Faruqi, LLP) Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that (1) AstraZeneca engaged in insurance fraud in China; (2) as a result, AstraZeneca faced heightened legal exposure in China, which eventually resulted in the AstraZeneca China President being detained by Chinese law enforcement authorities; (3) as a result, AstraZeneca understated its legal risks; (4) the foregoing, once revealed, could materially harm AstraZeneca's business activities in China; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On October 30, 2024, AstraZeneca announced that Leon Wang, Executive Vice President International and AstraZeneca China President, was "cooperating with an ongoing investigation by Chinese authorities."On this news, AstraZeneca American Depositary Shares ("ADS") fell 3.1% on October 30, 2024.Then, on November 5, 2024, Yicai Global published an article entitled "AstraZeneca Insurance Fraud Involves Dozens of Senior Executives in China, Source Says." This article stated that "[d]ozens of senior executives at AstraZeneca China have been implicated in an ongoing insurance fraud case as of last week, according to a person familiar with the matter." Further, it stated that "[o]ver the past three years, insurance fraud cases involving AstraZeneca have surfaced in Shenzhen as well as the provinces of Fujian and Jiangxi. [. . .] These cases amount to the largest insurance fraud in the nation's pharmaceutical sector for years, a person familiar with the matter pointed out."On this news, AstraZeneca ADSs fell a further 7.2% on November 5, 2024.The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative 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. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding AstraZeneca's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.To learn more about the AstraZeneca class action, go to www.faruqilaw.com/AZN or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).Follow us for updates on LinkedIn, on X, or on Facebook.Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.SOURCE Faruqi & Faruqi, LLP WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

Related News