First Manhattan sues Vivus over shareholder vote

Jul 16, 2013 by Marley Seaman

Vivus Inc.'s biggest shareholder said Tuesday it is suing the obesity drug maker as it continues to fight for greater control of the company.

First Manhattan Co., which as a 9.9-percent stake in Vivus, filed a lawsuit aiming to stop the drug maker and its representatives from soliciting or votes for the company's annual shareholder meeting. The also wants the court to certify the disputed results of the election of Vivus' directors, and to stop the company's current directors from taking any further action on behalf of Vivus.

The suit was filed in the Court of Chancery of the State of Delaware.

Vivus did not have an immediate comment.

The suit is the latest step in a fight for control of the company that began in March.

Explore further: Taxi app Uber defies ban in Spain

not rated yet
add to favorites email to friend print save as pdf

Related Stories

FDA to decide on Qnexa obesity drug in July

Apr 10, 2012

US regulators will decide in July whether to approve Qnexa, the first obesity drug in more than a decade, extending the initial deadline by three months, the California-based drug-maker VIVUS said.

Vivus weight loss drug faces FDA panel this week

Jul 13, 2010

(AP) -- Vivus Inc.'s experimental drug Qnexa was effective in cutting weight, the Food and Drug Administration said Tuesday, while acknowledging lingering concerns over the drug's nervous system and psychiatric side effects.

News Corp insurers pay $139M in shareholder suit

Apr 22, 2013

News Corp. says that the insurers backing its board of directors will pay the company $139 million to settle shareholder lawsuits over the British phone hacking scandal and the controversial purchase of an entertainment company ...

FDA panel backs previously rejected obesity pill

Feb 22, 2012

(AP) -- A panel of advisers to the Food and Drug Administration overwhelmingly backed approval for a highly anticipated anti-obesity pill called Qnexa, a drug which the FDA previously rejected due to safety concerns.

Recommended for you

Sony's PlayStation 'gradually coming back'

1 hour ago

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

1 hour ago

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

Sony film mess reflects gadgets-entertainment gap

Dec 26, 2014

Sony's iconic gadgetry and the star appeal of Hollywood may have appeared to be a perfect match when the electronics giant bought Columbia Pictures in 1989. A quarter century later, it's apparent that Sony ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.