RTTNews | Sep 28, 2020 08:56AM EDT

08:56 Monday, September 28, 2020 (RTTNews.com) - Sinovac Biotech Ltd. (SVA) said Monday that the Fourth Intermediate People's Court of Beijing issued a judgement holding Sinobioway Bio-medicine Co., Ltd. and Mr Aihua Pan or collectively, "the Defendants" liable for torts and breaches of shareholder fiduciary duty.

The judgment has come after a complaint filed by Sinovac Biotech (Hong Kong) Ltd in May 2018 against Sinobioway Medicine, Aihua Pan, and Shandong Sinobioway Biomedicine Co., Ltd. to hold them jointly liable for the offenses they committed during an attempt to take physical control of Sinovac's Shangdi facility in Beijing in April, 2018.

The Beijing Forth Court found that the Defendants disrupted Sinovac Beijing's production by cutting power, which resulted in Sinovac Beijing being forced to destroy the affected products with a total value of RMB 15.40 million.

The court's decision may be appealed within 15 days from the receipt of the ruling by the defendants or within 30 days by the plaintiff, respectively.

Read the original article on RTTNews ( https://www.rttnews.com/3131851/sinovac-biotech-chinese-court-issues-judgement-against-sinobioway-medicine-and-aihua-pan.aspx)

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