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The Shuman Law Firm Announces the Filing of a Class Action Lawsuit Against SciClone Pharmaceuticals, Inc.

^{Published on 2010-09-08 06:42:37 - Market Wire}
 

BOULDER, Colo.--([ BUSINESS WIRE ])--The Shuman Law Firm today announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of anyone who purchased or otherwise acquired SciClone Pharmaceuticals, Inc. ("SciClone" or the "Company") (NASDAQ: SCLN) common stock between May 11, 2009 and August 10, 2010, inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at [ kip@shumanlawfirm.com ] or Mr. Glenn at [ rusty@shumanlawfirm.com ].

SciClone is engaged in the development and commercialization of therapeutics for the treatment of cancer and infectious diseases. The Complaint alleges that throughout the Class Period, defendants were engaged in illegal and improper sales and marketing activities which ultimately caused SciClone to become the focus of a joint investigation by the Securities and Exchange Commission and the Department of Justice for possible violations of the Foreign Corrupt Practices Act. In the trading day following the revelation of the joint investigation, shares of the Company declined almost 40% on abnormally large trading volume.

If you purchased SciClone common stock during the Class Period, you may request that the Court appoint you as lead plaintiff of the class no later than October 12, 2010. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.