NEW YORK, May 22, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action has been filed on behalf of investors who purchased the securities of ViroPharma Incorporated ("ViroPharma") (Nasdaq:VPHM) between December 14, 2011 and April 9, 2012 seeking to recover investors losses. The Complaint asserts violations of the federal securities laws against ViroPharma and its CEO Vincent Milano.
To join the ViroPharma class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Laurence Rosen, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or lrosen@rosenlegal.com for information on the class action.
On December 14, 2011, the Company issued a press release announcing that as result of FDA approval of a supplemental new drug application, its drug Vancocin would enjoy three years of market exclusivity, and that generic Vancomycin capsules would not be approved during that time.
On April 10, 2012, the Company announced that the FDA stated that Vancocin would not have three years of market exclusivity. The Company also admitted that the Federal Trade Commission was investigating whether ViroPharma had engaged in unfair methods of competition with respect to Vancocin. These disclosures caused ViroPharma's stock to drop $6.17/share, causing investors substantial losses.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phil Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.