San Diego, CA -- (SBWIRE) -- 08/27/2012 -- The investigation of certain Viropharma directors and officers over potential breaches of fiduciary duties in connection with certain statements concerning Viropharma’s antibiotic drug Vancocin continues.
Investors who are current long term stockholders in Viropharma Inc (NASDAQ:VPHM) shares, 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 for current long term investors in NASDAQ:VPHM stocks follows a lawsuit filed earlier by shareholders against Viropharma Inc over alleged Securities Laws Violations.
The investigation on behalf of current long term NASDAQ:VPHM investors concerns whether certain Viropharma officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint the plaintiff alleges that Viropharma Inc 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 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 August 24, 2012 NASDAQ:VPHM shares closed at $26.85 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