MURRAY, FRANK & SAILER LLP ANNOUNCES A CLASS ACTION LAWSUIT AGAINST VICURON PHARMACEUTICALS INCORPORATED ON BEHALF OF SHAREHOLDERS - MICU
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New York (PrimeZone) June 15, 2004
Murray, Frank & Sailer LLP announces a class action lawsuit on behalf of purchasers of the securities of Vicuron Pharmaceuticals Incorporated ("Vicuron" or the "Company") (NASDAQ: MICU) between January 6, 2003 and May 24, 2004, inclusive (the "Class Period"). The action is for remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). The action, 04-CV-2627, is pending in the United States District Court Eastern District of Pennsylvania against defendants Vicuron; George F. Horner, III; Dov A. Goldstein; and Timothy J. Henkel.
The Complaint alleges that, during the Class Period, defendants artificially inflated the price of Vicuron stock by concealing negative material information concerning both the safety and efficacy of Anidulafungin, Vicuron's intravenous treatment of fungal infections which is the subject of late-stage clinical trials for the treatment of esophageal candidiasis, invasive aspergillosis, and invasive candidiasis/candidemia. Defendants concealed key adverse information regarding the development and commercialization of Anidulafungin, which raised serious concerns about the FDA's future approval of the drug. The partial disclosure of the contents of an FDA letter, dated Monday, May 24, 2004, detailing the failure of Vicuron to supply data necessary to support its claim that Anidulafungin can be used to treat esophageal candidasis, caused Vicuron shares to plummet $8.86 to $13.04, a loss of over 40% from the previous trading day and a loss of over 45% from its Class Period high of $23.90.
Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States. If you purchased or otherwise acquired Vicuron securities between January 6, 2003 and May 24, 2004, and sustained damages, you may, no later than August 14, 2004, move the Court to serve as lead plaintiff. Shareholders outside the United States may also join the action, regardless of which exchange was used to purchase the securities. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at http://www.murrayfrank.com/cases.htm. If you would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff's counsel Eric J. Belfi or Aaron D. Patton of Murray, Frank & Sailer LLP.
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