If you have purchased shares of ViroPharma Incorporated (NASDAQ: VPHM) betweenDecember 14, 2011 and April 9, 2012, call 1-800-934-2921 right now to protect your rights.
Filing deadline: July 17, 2012
Did ViroPharma deceive investors about the length of time ViroPharma had exclusivity on its drug, Vancocin?
There is hardly a day that goes by where it is not a scandal being uncovered along Wall Street. Often there is talk of insider trading, insider information or some other issue that inevitably costs someone money. The problems facing the company NeurogesX are no different. Coming under fire for withholding information and trading stock at artificially high prices, NeurogesX is just one company of many on Wall Street that is facing shareholder lawsuits.
Recently an investor in NeurogesX filed a lawsuit in the U.S. District Court in the Southern District of New York. The investor claimed there were violations of the Federal Securities Laws in conjunction with a few financial statements.
The investor claims that members of the Board of Directors for NeurogesX provided false and misleading statements to shareholders. The investor is also claiming that the company failed to divulge unfavorable facts in regards to NeurogesX’ Chief Medical Officer and Executive Vice President of Research and Development, Dr. Jeffrey K. Tobias.
Specific complaints state that the company, including Dr. Jeffrey K. Tobias, failed to divulge this information and actively covered up the fact that the head of Research and Development was actively pursuing other employment options. Due to this fact, the stock of the company was being traded at an artificially high price.
This has caused a number of problems with the stock price and overall value of the company. It was announced that Dr. Jeffrey K. Tobias was resigning on September 27, 2011. In light of this, from September 21, 2011 to October 7, 2011, the stock price declined from $1.66 to $0.77. As a result, the net loss of the company increased from $21.87 million to $49.55 million from 2009 to 2011. Since then, the stock has continued to decrease in price and as of most recent, the stock is valued at $0.463 per share.
Own shares of ViroPharma Incorporated (NASDAQ: VPHM)? Contact us to protect your rights.
If you have purchased shares of ViroPharma Incorporated (NASDAQ: VPHM) betweenDecember 14, 2011 and April 9, 2012, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.