ViroPharma Inc. Securities Litigation

The settlement will provide $9 million in cash, plus interest, to pay claims from investors who bought ViroPharma common stock or 6% notes due 2007 ("ViroPharma Securities") between July 13, 1999 and March 19, 2002 (inclusive). The settlement represents an average recovery of 36.4¢ per share (for the 21.8 million outstanding shares available for purchase) and 59.5¢ per $100 face amount of the 6% notes. These averages are estimates and are before deduction of any Court approved fees and expenses.

The lawsuit claims that Defendants misled investors by misrepresenting the efficacy and safety of ViroPharma’s drug, pleconaril, in clinical trials. The lawsuit also claims that Defendants issued press releases and other statements that contained false and misleading information about the efficacy and safety of the drug. The lawsuit claims that, as a result of these false and misleading statements, the value of ViroPharma Securities was inflated, and investors who purchased ViroPharma Securities at these inflated prices were damaged. All Defendants deny they did anything wrong.

Read More

Contact us for more information