Court bars 1Globe, Li from making statements regarding Sinovac

Vivo Capital, a global investment firm focused exclusively on healthcare and life sciences and a long-term shareholder of Sinovac Biotech (SVA), announced that the United States District Court of Massachusetts granted Vivo’s motion for a preliminary injunction against 1Globe Capital, LLC and its owner Jiaqiang “Chiang” Li, barring 1Globe from making further materially misleading statements regarding their shareholding or intentions with respect to Sinovac and mandating that they file an amended and accurate Schedule 13D disclosing their beneficial ownership interests, control relationships, group affiliations, and plans and proposals relating to Sinovac. Vivo stated: “Effectively, the decision compels 1Globe to ‘come clean’ after years of deliberately circumventing proper disclosure laws to mislead other shareholders of their true ownership position and intentions regarding their investment in Sinovac. As Vivo demonstrated to Judge Myong J. Joun by a substantial likelihood, 1Globe failed to provide disclosures mandated by federal securities laws while they clandestinely formed a group with ally OrbiMed, took control of Sinovac’s Board of Directors, carried out plans and proposals to weaken the corporate governance and business of Sinovac, and attempted to enrich themselves at the expense of all shareholders, including by attempting to illegally disenfranchise Vivo and certain other shareholders.”