January 3, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Sinovac Biotech Ltd. (NASDAQ:SVA) shares over potential securities laws violations by Sinovac Biotech Ltd. 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 Sinovac Biotech Ltd. (NASDAQ:SVA) concerning whether a series of statements by Sinovac Biotech Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based Sinovac Biotech Ltd.is a biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. Sinovac Biotech Ltd. reported that its annual Total Revenue rose from $62.93 million in 2014 to $67.41 million in 2015 and that its Net Loss increased from $0.85 million in 2014 to $1.07 million in 2015.

On December 21, 2016, a report was published disclosing that Sinovacs Chairman and CEO, Weidong Ying, had allegedly paid bribes to Yin Hongzhang, the Deputy Director General of the Center for Drug Evaluation for the China Food and Drug Administration, to help procure and pass drug applications and evaluations.

Shares of Sinovac Biotech Ltd. (NASDAQ:SVA) closed on January 3, 2016, at $5.90 per share.