SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Investigates claims on behalf of Investors of Sanofi -SNY

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Dec 04, 2014, 10:00 ET

NEW YORK, Dec. 4, 2014 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Sanofi. ("Sanofi" or the "Company") (NYSE: SNY). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.

The investigation concerns whether Sanofi and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

On October 29, 2014, Sanofi fired its CEO, Chris Viehbacher. Pending the decision on the appointment of a new Chief Executive Officer, the Board asked Serge Weinberg to fulfill jointly, and on a temporary basis, the functions of Chairman and Chief Executive Officer.

On this news, shares of Sanofi fell $2.85 or 5.93% during intraday trading to trade at $45.22 on October 29, 2014.

On December 3, 2014, it was reported by Bloomberg and other media outlets that a whistleblower lawsuit against Sanofi has been filed in New Jersey by former Sanofi paralegal Diane Ponte. The suit alleges that Christopher Viehbacher, the recently ousted CEO of Sanofi, and other executives at the drugmaker conducted a scheme in violation of federal law to funnel tens of millions of dollars in kickbacks and other incentives to get the company's diabetes drugs prescribed and sold. The lawsuit also claims that Viehbacher was fired by the company's board in October "in part, because Defendant Viehbacher was involved in the aforesaid illegal and/or fraudulent activity," which allegedly went on "over the course of many years." Lastly, the suit alleges that Ponte was fired as a result of whistleblowing activity in retaliation for bringing the scheme to light.

If you are aware of any facts relating to this investigation, or purchased shares of Sanofi, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]

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