Beijing Fourth Intermediate People’s Court Issues Judgement Against Sinobioway Medicine and Mr. Aihua Pan

Beijing Fourth Intermediate People’s Court Issues Judgement Against Sinobioway Medicine and Mr. Aihua Pan

Sinovac Biotech Ltd. (NASDAQ:SVA) (“Sinovac” or the “Company”), a leading provider of biopharmaceutical products in China, announced today that the Fourth Intermediate People’s Court of Beijing (“Beijing Fourth Court”) issued a judgement holding Sinobioway Bio-medicine Co., Ltd. (“Sinobioway Medicine”) and Mr. Aihua Pan (collectively, “the Defendants”) liable for torts and breaches of shareholder fiduciary duty.

The judgment follows a complaint filed by Sinovac Biotech (Hong Kong) Ltd. (“Sinovac Hong Kong”) on May 16, 2018 against Sinobioway Medicine, Mr. 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 on April 17, 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

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