AstraZeneca PLC (NASDAQ: AZN)

This lawsuit is for anyone who acquired securities in AstraZeneca PLC (NASDAQ: AZN) from February 23, 2022 through December 17, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by materially understating the Company’s exposure to regulatory risk to its business in China considering that the Company was actively engaging in insurance fraud in China during the class period.

On October 30, 2024, AstraZeneca disclosed that its International Executive Vice President and China President, Leon Wang, was under investigation by Chinese Authorities. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on November 5, 2024, news outlets reported that a fraud investigation linked to AstraZeneca had expanded to several Chinese government agencies, implicating dozens of senior executives at the Company. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, on December 18, 2024, Financial Times reported that Wang had been arrested and that AstraZeneca “expect[ed] to see an ‘evident’ revenue hit in China in the wake of the arrest,” stating that “the sales impact is already very evident.” On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in AstraZeneca PLC (NASDAQ: AZN) from February 23, 2022 through December 17, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.