Sinovac to Investigate Allegation that its Chairman Bribed the CFDA

Sinovac Biotech, a Beijing vaccine maker, said its Audit Committee will investigate claims that Weidong Yin, Sinovac's Chairman, President and CEO, bribed a CFDA official to speed regulatory approval of the company's vaccines. Mr. Yin has not, himself, made any public declarations of guilt or innocence. Sinovac's Audit Committee will work with the law firm Latham & Watkins in the investigation. The charges stem from a year-old case that resulted in the resignation and imprisonment of a CFDA official, also named Yin. Previously, the courts had not released the name(s) of companies alleged to have made the illegal payments. More details....

Stock Symbol: (NSDQ: SVA)

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