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An announcement from LakeShore Biopharma ( (LSB) ) is now available.
LakeShore Biopharma has announced that the Shenyang Municipal Public Security Bureau in China has initiated a criminal investigation into the actions of its former chairman, Yi Zhang, who allegedly misappropriated company assets and caused financial harm. The company has taken corrective actions by removing Yi Zhang from his positions and improving financial and operational performance under new leadership. Despite challenges posed by Zhang’s actions, including asset freezes due to forged contracts, the company has secured additional financing and is confident in resolving the issues. Legal proceedings are being considered to seek compensation for the damages caused.
More about LakeShore Biopharma
LakeShore Biopharma Co., Ltd is a global biopharmaceutical company that focuses on the innovation and production of vaccines and therapeutic biologics targeting infectious diseases and cancer. The company has a significant presence in the rabies vaccine market in China.
YTD Price Performance: -48.92%
Average Trading Volume: 45,777
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $49.8M
See more data about LSB stock on TipRanks’ Stock Analysis page.
