SciClone seeking alternatives

SciClone Pharmaceuticals Inc. (NASDAQ:SCLN) gained $0.65 to $8.76 on Friday after reporting late Thursday that it settled an investigation with the SEC and hired Lazard to help the company seek strategic alternatives.

According to SciClone, the SEC and U.S. Department of Justice were investigating whether historical sales and marketing activities in SciClone's China operations violated the Foreign Corrupt Practices Act. SciClone agreed to pay the SEC $12.8 million to settle the investigation, but "neither admits nor denies it engaged in any wrongdoing." The DoJ declined to pursue any action against SciClone. Both agencies have been investigating SciClone since 2010. ...