Needham & Company Downgrades Vivus (VVUS) to Hold; Sees Disruption Following Settlement
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VIVUS (VVUS), First Manhattan, Sarissa Enter Proxy Settlement
July 19, 2013 7:00 AM EDTVIVUS, Inc. (Nasdaq: VVUS), First Manhattan Co., an owner-managed and operated investment advisory firm and the owner of approximately 9.9 percent of the outstanding shares of VIVUS, and Sarissa Capital Management LP, a registered investment adviser that focuses on enhancing shareholder value of portfolio companies and the owner of approximately two percent of VIVUS's outstanding shares, jointly announced today that VIVUS and FMC have entered into a settlement agreement regarding their proxy contest related to the Company's 2013 Annual Meeting of Stockholders.
Under the terms of the agreement, Charles J. Casamento Ernest... More
