VIVUS (VVUS) Securities Fraud Lawsuit Dismissed
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VIVUS, Inc. (Nasdaq: VVUS) announced the dismissal of a putative class action lawsuit captioned Kovtun v. Vivus, Inc., et al., Case No. 4:10-CV-04957-PJH, filed in November 2010 against the company and two of its officers alleging securities fraud.
On September 27, 2012, Honorable Phyllis J. Hamilton of the U.S. District Court for the Northern District of California granted, with prejudice, VIVUS's motion to dismiss all claims asserted against VIVUS and its officers for failure to state a claim. In October 2011, Judge Hamilton had dismissed an earlier version of the Plaintiffs' complaint, but at that time granted the plaintiffs leave to file an amended complaint, which Judge Hamilton has now dismissed without leave to amend.
Plaintiffs have a period of 30 days from the entry of Judge Hamilton's order in which to appeal the decision.
On September 27, 2012, Honorable Phyllis J. Hamilton of the U.S. District Court for the Northern District of California granted, with prejudice, VIVUS's motion to dismiss all claims asserted against VIVUS and its officers for failure to state a claim. In October 2011, Judge Hamilton had dismissed an earlier version of the Plaintiffs' complaint, but at that time granted the plaintiffs leave to file an amended complaint, which Judge Hamilton has now dismissed without leave to amend.
Plaintiffs have a period of 30 days from the entry of Judge Hamilton's order in which to appeal the decision.
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