Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action Lawsuit on Behalf of Vicuron Pharmaceuticals, Inc. Shareholde
July 21 2004 - 3:26PM
PR Newswire (US)
Wolf Haldenstein Adler Freeman and Herz LLP Commences Class Action
Lawsuit on Behalf of Vicuron Pharmaceuticals, Inc. Shareholders NEW
YORK, July 21 /PRNewswire/ -- Wolf Haldenstein Adler Freeman &
Herz LLP filed a class action lawsuit in the United States District
Court for the Eastern District of Pennsylvania, on behalf of all
persons who purchased the common stock of Vicuron Pharmaceuticals,
Inc. ("Vicuron" or the "Company") (NASDAQ:MICU) between January 6,
2003 and May 24, 2004, inclusive, (the "Class Period") against
defendants Vicuron and certain officers of the Company. The case
name is Staton v. Vicuron Pharmaceuticals, Inc., et al. A copy of
the complaint filed in this action is available from the Court, or
can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP
website at http://www.whafh.com/cases/vicuron.htm. The complaint
alleges that defendants violated the federal securities laws by
issuing materially false and misleading statements throughout the
Class Period that had the effect of artificially inflating the
market price of the Company's securities. The complaint
specifically alleges that during the Class Period, defendants
artificially inflated the price of Vicuron stock by concealing
critical material information regarding the details of both the
safety and efficacy of Anidulafungin, the Company's lead product
candidate. Defendants concealed key adverse information regarding
the development and commercialization of Anidulafungin, raising
serious concerns for the very approval of the drug for the
treatment of esophageal candidiasis and other selected indications.
The partial disclosure of the contents of the FDA letter on Monday,
May 24, 2004, detailing the failure of Vicuron to supply data
necessary to support its very claim for the use of Anidulafungin
for the treatment of esophageal candidiasis caused Vicuron shares
to plummet $8.86, to $13.04, for a loss of over 40% from the
previous trading day and over 45% from its Class Period high of
$23.90, on volume of over 15 million shares, causing millions of
dollars in damages to members of the Class. If you purchased
Vicuron common stock during the Class Period, you may request that
the Court appoint you as lead plaintiff by August 16, 2004. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed
lead plaintiff, the Court must determine that the class member's
claim is typical of the claims of other class members, and that the
class member will adequately represent the class. Under certain
circumstances, one or more class members may together serve as
"lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead
plaintiff. You may retain Wolf Haldenstein, or other counsel of
your choice, to serve as your counsel in this action. Wolf
Haldenstein has extensive experience in the prosecution of
securities class actions and derivative litigation in state and
federal trial and appellate courts across the country. The firm has
approximately 60 attorneys in various practice areas; and offices
in Chicago, New York City, San Diego, and West Palm Beach. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation. If you wish to discuss
this action or have any questions, please contact Wolf Haldenstein
Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith,
Esq., Christopher Hinton, Esq., or Derek Behnke), via e-mail at or
visit our website at http://www.whafh.com/. All e-mail
correspondence should make reference to Vicuron. DATASOURCE: Wolf
Haldenstein Adler Freeman & Herz LLP CONTACT: Fred Taylor
Isquith, Esq., Christopher Hinton, Esq., or Derek Behnke, all of
Wolf Haldenstein Adler Freeman & Herz LLP, 1-800-575-0735, or
Web site: http://www.whafh.com/
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