An investigation on behalf of current long term investors in NASDAQ:VPHM shares over possible breaches of fiduciary duty by certain officers and directors at Viropharma Inc was announced and NASDAQ:VPHM investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/19/2012 -- Certain directors and officers of Viropharma Inc are under investigation over potential breaches of fiduciary duties in connection with certain financial statements.
Investors who purchased shares of Viropharma Inc (NASDAQ:VPHM), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns on whether certain officers and directors at Viropharma Inc breached their fiduciary duties. Specifically, the investigation focuses whether certain statements about Viropharma’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
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").
However, then on April 10, 2012, ViroPharma Incorporated 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 May 18, 2012 as low as $19.24 per share.
On June 18, 2012, NASDAQ:VPHM shares closed at $22.30 per share
Those who are current long term investors in Viropharma Inc (NASDAQ:VPHM) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego