November 01, 2014 (Shareholders Foundation) - An investigation on behalf of investors of Sanofi SA (ADR) (NYSE:SNY) shares over potential securities laws violations by Sanofi SA and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Sanofi SA (ADR) (NYSE:SNY) concerning whether a series of statements by Sanofi SA regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Sanofi SA reported that its annual Total Revenue declined from over 35.95 million EUR to 33.3 billion EUR and that its respective Net Income declined from over 4.96 billion EUR to over 3.71 billion EUR.

Shares of Sanofi SA (ADR) (NYSE:SNY) grew from $28.64 per share in August 2010 to as high as $57.29 per share on September 22, 2014.

Then on October 29, 2014, the board of directors of Sanofi SA held a meeting Wednesday, October 29 at 8am and decided unanimously to remove Christopher A. Viehbacher as Chief Executive Officer of Sanofi. As a consequence Christopher A. Viehbacher resigned as a director of Sanofi.
Sanofi SA said that pending the decision on the appointment of a new Chief Executive Officer, the Board asked Serge Weinberg to fulfill jointly, as of today and on a temporary basis, the functions of Chairman and Chief Executive Officer.

Shares of Sanofi SA (ADR) (NYSE:SNY) declined to as low as $44.50 per share on October 29, 2014.