Health & Fitness
Thu, May 31, 2012
SAN DIEGO--([ BUSINESS WIRE ])--Shareholder Rights Law Firm Johnson & Weaver, LLP announces that it is investigating whether certain officers and directors of ViroPharma, Inc. (aViroPharmaa or athe Companya) (NASDAQ:VPHM), may have engaged in fraudulent conduct that breached their fiduciary duties to shareholders and violated United States securities laws.
ViroPharma develops antiviral pharmaceuticals for treatment of various viral diseases. The investigation focuses on whether certain officers and directors of ViroPharma issued improper public statements that persuaded investors that the Companyas product Vancocin would be free from market competition by generics for an additional three years.
The Company issued a press release on December 14, 2011, suggesting that Vancocin would have three years of marketing exclusivity due to changes in its labeling, and that the FDA would not approve new generic versions during that period. ViroPharmaas stock jumped 17.9% that day to close at $27.80 per share. On April 10, 2012, however, ViroPharma announced that the label changes did not qualify for marketing exclusivity and that the FDA planned to approve three generic substitutes for Vancocin. ViroPharma common stock dropped 22% that day, to close at $22.44 per share on April 10, 2012.
If you purchased any class of ViroPharma securities between December 14, 2011 and April 9, 2012 you may have legal rights to compensation.
Johnson & Weaver, LLP invites ViroPharma shareholders who are concerned about their legal rights and remedies, as well as others who may have information about the above, to contact attorney Brett Weaver at (619) 230-0063 or [ brettw@johnsonandweaver.com ].
Johnson & Weaver, LLP is a nationally recognized shareholdersa rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit [ http://www.johnsonandweaver.com ].