San Diego, CA -- (SBWIRE) -- 06/27/2012 -- A deadline is coming up on July 17, 2012 in the lawsuit filed for investors in NASDAQ:VPHM over alleged securities laws violations by of Viropharma Inc.
Investors with a substantial investment in Viropharma Inc (NASDAQ:VPHM) shares between December 14, 2011 and April 9, 2012, should get active before the Deadline that is coming up on July 17, 2012 and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of Pennsylvania the plaintiff alleges on behalf of purchasers of Viropharma Inc (NASDAQ:VPHM) between December 14, 2011 and April 9, 2012, that Viropharma Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between December 14, 2011 and April 9, 2012, allegedly materially false and misleading statements regarding the Company's business operations, financial condition and prospects.
Specifically, the plaintiff claims that defendants allegedly misrepresented and omitted material facts concerning the market exclusivity it falsely assumed to possess for Vancocin. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period. The plaintiff says that on December 14, 2011, Viropharma Inc issued a press release which announced the "modernization of labeling" for Vancocin made effective through the FDA approval of a supplemental new drug application ("sNDA").
Then, on April 10, 2012, ViroPharma Incorporated (Nasdaq: VPHM) announced the U.S. Food and Drug Administration (“FDA”) denied the citizen petition filed by ViroPharma on March 17, 2006 related to the FDA's proposed in vitro method for determining bioequivalence of abbreviated new drug applications (ANDAs) referencing Vancocin® (vancomycin hydrochloride, USP) Capsules.
Shares of Viropharma Inc (NASDAQ:VPHM) fell from $29.36 during April 9, 2012 to $21.24 during April 12, 2012 and closed on April 20, 2012 at $21.94 per share.
On June 26, 2012, NASDAQ: VPHM shares closed at $23.06 per share.
Those who purchased shares of Viropharma Inc (NASDAQ:VPHM) shares, have certain options should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego