Lawsuit Alleges Company Execs Made False and Misleading Statements, Covered Up Insurance Fraud in China
SAN DIEGO – March 24, 2025 – The United States District Court for the Central District of California on Friday appointed DiCello Levitt as Lead Counsel in the shareholder class action against AstraZeneca PLC and certain of its senior executives.
The lawsuit involves allegations that AstraZeneca, a multinational pharmaceutical and biotechnology company headquartered in Cambridge, United Kingdom, and the other defendants made false statements and failed to disclose that: (i) AstraZeneca engaged in insurance fraud in China; (ii) as a result, AstraZeneca faced heightened legal exposure in China, which eventually resulted in the AstraZeneca China President being detained by Chinese law enforcement authorities; (iii) thus, AstraZeneca understated its legal risks; and (iv) the foregoing, once revealed, would materially harm AstraZeneca’s business activities in China.
“AstraZeneca investors, including public and private pension and investment funds around the world, were defrauded due to AstraZeneca’s alleged failure to truthfully and accurately disclose its misconduct and other difficulties in China. We are committed to vigorously prosecuting these claims on behalf of our clients and all other members of the class,” said DiCello Levitt Partner Brian O’Mara, who manages the firm’s San Diego office.
In appointing DiCello Levitt as Lead Counsel, Judge John F. Walter found that the firm “has extensive expertise and experience in the field of securities litigation and has successfully prosecuted numerous securities fraud class actions and obtained excellent recoveries on behalf of defrauded investors. Accordingly, the Court approves the appointment of DiCello [Levitt] as Lead Counsel in this action.”
The case is Jeries Saleh -v- AstraZeneca PLC, et al., Case No. 2:24-cv-11021-JFW-AS (C.D. Cal.). Lead Plaintiffs and the class are represented in the litigation by DiCello Levitt attorneys Henry Rosen, Brian O’Mara, Hani Farah, Ruben Peña, and Kelsey Anderson.
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Media Contact Caitlin Whitehurst, Director of Communications, [email protected]