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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of SciClone Pharmaceuticals, Inc.

^{Published on 2010-08-10 18:20:33 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of the shareholders of SciClone Pharmaceuticals, Inc. (aSciClonea or the aCompanya) (NASDAQ:SCLN) concerning possible violations of federal securities laws. SciClone engages in the development and commercialization of therapeutics for the treatment of cancer and infectious diseases in the Peoplea™s Republic of China and internationally. The Companya™s principal product is ZADAXIN, which, among other things, is used for the treatment of hepatitis B and hepatitis C viruses and certain cancers.

The investigation focuses on allegations that certain statements made by the Company concerning SciClonea™s business and operations were materially false and/or misleading. On August 9, 2010, SciClone disclosed that the U.S. Securities and Exchange Commission (SEC) has initiated a formal investigation of SciClone, and that the U.S. Department of Justice (DOJ) has requested that the Company meet with the DOJ regarding SciClonea™s compliance with the Foreign Corrupt Practices Act (FCPA). In connection with its investigation, the SEC issued a subpoena to SciClone requesting a variety of documents relating to a range of matters including interactions with regulators and government-owned entities in China, activities relating to sales in China, and documents relating to certain Company financial and other disclosures.

If you are a shareholder of SciClone, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].