Heng Ren Investments LP v. Sinovac Biotech Ltd.

United States District Court District of Massachusetts ) Heng Ren Investments LP, ) ) Plaintiff, ) ) v. ) ) Civil Action No. Sinovac Biotech Ltd., et al., ) 19-11612-NMG ) Defendants. ) ) MEMORANDUM & ORDER GORTON, J. This action arises out of a public investment in private equity transaction (“the PIPE transaction”). In that transaction nearly 12 million new shares of Sinovac Biotech Ltd. (“Sinovac” or “defendant”) stock were allegedly issued and sold to two private investors affiliated with Sinovac’s founder and Chief Executive Officer, Weidong Yin (“Yin”), at below-market price. Plaintiff…