Navigation Links
Block & Leviton LLP Investigates ViroPharma Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Acquisition by Shire PLC.
Date:11/11/2013

BOSTON, Nov. 11, 2013 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of ViroPharma Inc. ("ViroPharma" or the "Company") (NASDAQ:   VPHM) concerning the proposed acquisition of the Company by U.K.-based company, Shire PLC ("Shire"), in a transaction valued at approximately $4.2 billion.  Under the terms of the transaction, Shire will acquire each ViroPharma share for $50.00, representing a paltry premium of 27% to ViroPharma's closing share price on Friday, November 8, 2013.   

The transaction was announced less than two weeks after ViroPharma announced highly positive third quarter 2013 financial results, which management described as an "extremely strong period of growth and positive momentum across our entire organization."  At that time, the Company also raised its North American net sales guidance to between $395 and $405 million. 

ViroPharma's share price has been spiking over the last year - trading between $22.12 per share on December 31, 2012 and hitting a high of $41.14 on November 7, 2013.  Indeed, in September 2013, the Company's share price rose nearly 30%.  The so-called premium appears to significantly undervalue the Company, especially considering that several companies, including Sanofi, were apparently interested in ViroPharma, which makes Cinryze for the treatment of immune disorder hereditary angioedema.  Treatments for such rare disorders can command huge prices, running into hundreds of thousands of dollars a year per patient.

Block & Leviton's investigation seeks to determine, among other things, whether ViroPharma's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed acquisition by Shire and the fairness by which the ViroPharma's Directors considered and approved the transaction.

If you are a ViroPharma shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at
(617) 398-5600 or email him at Steven@blockesq.com.  

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.  This notice may constitute attorney advertising.

Contact:
BLOCK & LEVITON LLP
Steven P. Harte, Esq.
steven@blockesq.com
(617) 398-5600


'/>"/>
SOURCE Block & Leviton LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Too Much Sugar on the Menu? A New Tablet Might Someday Block Those Carbs
2. ACI: Drug and Medical Device Litigation Conference - Blockbuster Faculy Announced
3. Among New Agents Entering the Unipolar Depression Market Over the Next Decade, Lundbeck/Takeda Pharmaceuticals Brintellix Has Blockbuster Potential
4. Convergence Pharmaceuticals Receives Orphan-Drug Designation for Nav1.7 Blocking Pain Drug CNV1014802
5. UK Ministers to Block Law against Headshops
6. Convergence Pharmaceuticals Announces Start of Phase II Study for Cav2.2 Selective Blocker, CNV2197944 in Pain Associated with Post-Herpetic Neuralgia
7. DSM and DecImmune Therapeutics Sign Agreement to Develop N2 Pathway Blocking Antibody
8. Stenting blocked bowel arteries saves lives
9. Blockbuster Expectations Dont Always Translate to Market Reality
10. Block Engineering Announces Collaborative Agreement with Pfizer for Next Generation Cleaning Verification Technology
11. Missouris PSE Blocking Technology Leading To Progress In Battle Against Meth
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/10/2017)... , May 10, 2017 Global Health ... Latin America , published its 2017 ranking ... ranking is based on extensive data analysis from GHI,s ... largest hospitals database for the region. The GHI database covers ... , offering more than 130 data points for each institution ...
(Date:5/9/2017)...  Demonstrating its commitment to representing research- based ... Pharmaceutical Research and Manufacturers of America (PhRMA) today ... now have to meet new research and development ... join PhRMA. "By putting in place ... clear message that being a member of PhRMA ...
(Date:5/6/2017)... , May 5, 2017   Provista , a ... more than 200,000 customers, today announced Jim Cunniff ... wealth of executive and business experience to Provista, including most ... pharmacy in California . He assumed his ... "Jim is a great fit for Provista," says Jody ...
Breaking Medicine Technology:
(Date:5/28/2017)... Illinois (PRWEB) , ... May 28, 2017 , ... ... , a medical scrubs and uniform distributor based in Lima, Ohio. The sale began ... features approximately one million units of medical garments, scrubs, uniforms, and medical accessories, including ...
(Date:5/27/2017)... California (PRWEB) , ... May 26, 2017 , ... A ... citizens who visit a doctor for colds or respiratory issues that are not responsive ... excessive time pressure on doctors may be largely responsible for the problem both in ...
(Date:5/27/2017)... ... May 27, 2017 , ... Most us are familiar with the ... study from the Osteoarthritis Initiative shows that certain people who experience consistent ... in advance may give doctors the opportunity to treat patients before the problem becomes ...
(Date:5/26/2017)... Fairfax, VA (PRWEB) , ... May 26, 2017 ... ... is pleased to announce a new educational seminar to focus on current legislative ... Regulatory News(LEARN) seminar will begin at 1 p.m. Sunday, Sept. 10, and will ...
(Date:5/26/2017)... , ... May 26, 2017 , ... ... delicatessen foods, is sharing bold recipes for Memorial Day entertaining that are sure ... , “Boar’s Head fresh sliced meats and cheeses featured in these refreshingly ...
Breaking Medicine News(10 mins):