{"id":860587,"date":"2025-06-16T00:53:07","date_gmt":"2025-06-16T04:53:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/"},"modified":"2025-06-16T00:53:07","modified_gmt":"2025-06-16T04:53:07","slug":"sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/","title":{"rendered":"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders<\/b><\/p>\n<p class=\"bwalignc\"><i>Vivo Capital Challenges SINOVAC\u2019s Paying Agent on Distribution of the Dividend<\/i><\/p>\n<p class=\"bwalignc\"><i>Opposition Brief to be Filed Monday in Advance of Wednesday Hearing and Expected Friday Decision<\/i><\/p>\n<p>BEIJING&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (\u201c<b>SINOVAC<\/b>\u201d or the \u201c<b>Company<\/b>\u201d), a leading provider of biopharmaceutical products in China, today disclosed that on June 12, 2025, Advantech\/Prime Success filed a Petition for Emergency Injunctive Relief against SINOVAC, et al., naming as relief parties Cede &amp; Co., The Depository Trust Company, and Equiniti (the dividend paying agent retained by the SINOVAC Board), which may prevent the SINOVAC Board from paying the US$55.00 special dividend as scheduled on or about July 9, 2025.<\/p>\n<p>\nWe learned that Vivo Capital\u2019s counsel informed the paying agent that Vivo would challenge the dividend and asked the paying agent to withdraw from facilitating the distribution of the US$55.00 dividend declared by the SINOVAC Board to all valid shareholders.<\/p>\n<p>\nThe SINOVAC Board has an obligation to answer this Petition on behalf of all SINOVAC common shareholders to stand up to the egregious actions of Prime Success. We expect to file our Opposition Brief today at 5:00 p.m. Atlantic Standard Time, followed by a hearing on Wednesday, June 18.<\/p>\n<p>\nWe continue to be shocked by the self-serving, unnecessary actions by Advantech and Vivo Capital (together known as the \u201cDissenting Investor Group\u201d) against SINOVAC, threatening the rightful dividend payment to all valid SINOVAC common shareholders. These incomprehensible actions are unacceptable to the SINOVAC Board because:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nThe Dissenting Investor Group has already pocketed more than US$1.1 billion in dividends from SINOVAC\u2019s operating subsidiary, while all SINOVAC\u2019s valid shareholders received nothing.<\/p>\n<\/li>\n<li>\nAn amount equal to the aggregate amount of cash that would be payable under the US$55.00 per common share special dividend in respect of the 2018 PIPE shares has been set aside by the SINOVAC Board in an escrow account managed by an independent third party pending final resolution of the legal proceedings, which the Dissenting Investor Group initiated. Thus, there is no risk whatsoever that the Dissenting Investor Group\u2019s allocations of the dividend will not be paid if the courts ultimately decide in their favor regarding the PIPE shares.<\/p>\n<\/li>\n<\/ul>\n<p>\nThese new actions by the Dissenting Investor Group go against their assertions of their support of the US$55.00 dividend payment in their letters to shareholders and raises the question \u2013 how can you trust anything they say in their letters or press releases?<\/p>\n<p><b>The SINOVAC Board will continue to fight these frivolous lawsuits, all of which aim to accomplish one thing: to allow the Dissenting Investor group to double dip on dividends. We feel certain we will prevail quickly in this and other proceedings. The SINOVAC Board is on a mission to restore fairness and deliver value to ALL SINOVAC shareholders.<\/b><\/p>\n<p><b>About SINOVAC<\/b><\/p>\n<p>\nSinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&amp;D, manufacturing, and commercialization of vaccines that protect against human infectious diseases.<\/p>\n<p>\nSINOVAC&#8217;s product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc.<\/p>\n<p>\nThe COVID-19 vaccine, CoronaVac\u00ae, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive\u00ae, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive\u00ae, is an innovative vaccine under &#8220;Category 1 Preventative Biological Products&#8221; and commercialized in China in 2016. In 2022, SINOVAC&#8217;s Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO.<\/p>\n<p>\nSINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1\u00ae, which has supplied the Chinese government&#8217;s vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu\u00ae, to the Chinese government stockpiling program.<\/p>\n<p>\nSINOVAC continually dedicates itself to new vaccine R&amp;D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations.<\/p>\n<p><b>Safe Harbor Statement<\/b><\/p>\n<p>\nThis announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as \u201cmay,\u201d \u201cwill,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201caim,\u201d \u201cestimate,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201cbelieve,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cis\/are likely to\u201d or other similar expressions. Such statements are based upon current expectations and relate to events that involve known or unknown risks, uncertainties and other factors, including without limitation risks, uncertainties and factors related to the timing of filings, hearings and other litigation-related matters, all of which are difficult to predict and many of which are beyond the Company\u2019s control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company\u2019s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250615436271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20250615436271\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20250615436271\/en\/<\/a><\/span><\/p>\n<p><b>Investor and Media Contact<br \/>\n<\/b><br \/>FGS Global<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:Sinovac@fgsglobal.com\">Sinovac@fgsglobal.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> China Asia Pacific<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Health Infectious Diseases Manufacturing Other Manufacturing Pharmaceutical Biotechnology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders Vivo Capital Challenges SINOVAC\u2019s Paying Agent on Distribution of the Dividend Opposition Brief to be Filed Monday in Advance of Wednesday Hearing and Expected Friday Decision BEIJING&#8211;(BUSINESS WIRE)&#8211; The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (\u201cSINOVAC\u201d or the \u201cCompany\u201d), a leading provider of biopharmaceutical products in China, today disclosed that on June 12, 2025, Advantech\/Prime Success filed a Petition for Emergency Injunctive Relief against SINOVAC, et al., naming as relief parties Cede &amp; Co., The Depository Trust Company, and Equiniti (the dividend paying agent retained by the SINOVAC Board), which may prevent the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-860587","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders Vivo Capital Challenges SINOVAC\u2019s Paying Agent on Distribution of the Dividend Opposition Brief to be Filed Monday in Advance of Wednesday Hearing and Expected Friday Decision BEIJING&#8211;(BUSINESS WIRE)&#8211; The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (\u201cSINOVAC\u201d or the \u201cCompany\u201d), a leading provider of biopharmaceutical products in China, today disclosed that on June 12, 2025, Advantech\/Prime Success filed a Petition for Emergency Injunctive Relief against SINOVAC, et al., naming as relief parties Cede &amp; Co., The Depository Trust Company, and Equiniti (the dividend paying agent retained by the SINOVAC Board), which may prevent the &hellip; Continue reading &quot;SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-16T04:53:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250615436271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"SINOVAC Board of Directors Alerts Shareholders to Advantech\\\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders\",\"datePublished\":\"2025-06-16T04:53:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/\"},\"wordCount\":938,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20250615436271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\\\/\",\"name\":\"SINOVAC Board of Directors Alerts Shareholders to Advantech\\\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders - 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(NASDAQ: SVA) (\u201cSINOVAC\u201d or the \u201cCompany\u201d), a leading provider of biopharmaceutical products in China, today disclosed that on June 12, 2025, Advantech\/Prime Success filed a Petition for Emergency Injunctive Relief against SINOVAC, et al., naming as relief parties Cede &amp; Co., The Depository Trust Company, and Equiniti (the dividend paying agent retained by the SINOVAC Board), which may prevent the &hellip; Continue reading \"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/","og_site_name":"Market Newsdesk","article_published_time":"2025-06-16T04:53:07+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250615436271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders","datePublished":"2025-06-16T04:53:07+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/"},"wordCount":938,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20250615436271r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sinovac-board-of-directors-alerts-shareholders-to-advantech-prime-success-new-lawsuit-which-threatens-to-prevent-payment-of-us55-00-special-dividend-to-all-valid-shareholders\/","name":"SINOVAC Board of Directors Alerts Shareholders to Advantech\/Prime Success\u2019 New Lawsuit, Which Threatens to Prevent Payment of US$55.00 Special Dividend to All Valid Shareholders - 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