BOULDER, Colo.--(BUSINESS WIRE)--The Shuman Law Firm today announced that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of a Class of purchasers of the publicly traded securities of ViroPharma Incorporated ("ViroPharma" or the "Company") (Nasdaq: VPHM) between December 14, 2011 and April 9, 2012, inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning this notice or your rights and interests with respect to this matter, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at firstname.lastname@example.org or Mr. Glenn at email@example.com.
The Complaint alleges that ViroPharma, and certain of its officers and directors violated the federal securities laws. Specifically, it is alleged that defendants failed to disclose during the Class Period that the Company had no basis for its stated belief that its supplemental new drug application ("sNDA") approval for Vancocin on December 14, 2011 would qualify for three additional years of exclusivity such that generic Vancomycin capsules would not be approved during that time since the sNDA was not for a significant new use or indication. Moreover, the Complaint alleges that on April 10, 2012, the Company revealed that not only did the FDA advise the Company that the sNDA approval would not qualify for exclusivity, but, the FDA concurrently announced the approval of three applications for generic Vancomycin capsules, the value of ViroPharma shares declined significantly.
If you are a member of the Class, you may move the court no later than July 17, 2012, and request that the Court appoint you as lead plaintiff. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.