SOURCE: Izard Nobel LLP

May 24, 2012 16:59 ET

Izard Nobel LLP Announces Class Action Lawsuit Against ViroPharma Incorporated

WEST HARTFORD, CT--(Marketwire - May 24, 2012) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of the publicly traded securities of ViroPharma Incorporated ("ViroPharma" or the "Company") (NASDAQ: VPHM) between December 14, 2011 and April 9, 2012, inclusive (the "Class Period").

The Complaint alleges that ViroPharma, and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose during the Class Period that the Company had no basis for its stated belief that it a supplemental new drug application ("sNDA") approval for Vancocin on December 14, 2011 would qualify for three additional years of exclusivity such that generic Vancomycin capsules would not be approved during that time since the sNDA was not for a significant new use or indication. On April 10, 2012, the Company revealed that not only did the FDA advise the Company that the sNDA approval would not qualify for exclusivity, but, the FDA concurrently announced the approval of three applications for generic Vancomycin capsules, the value of ViroPharma shares declined significantly.

If you are a member of the class, you may, no later than July 17, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/viropharma/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.

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