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Vivus Securities Fraud Class Action Lawsuit Complaint Filed Over Weight Loss Drug Qnexa

Vivus VVUS Stock Purchasers File Securities Fraud Class Action Lawsuit Complaint Against Vivus Over Alleged Misrepresentions Over Weight Loss Drug Qnexa.

A securities fraud class action lawsuit has been filed against obesity drug maker Vivus, Inc. (“Vivus” or “Defendant”) in the United States District Court for the Northern District of California on behalf of a class consisting of purchasers of Vivus’s common stock (symbol: VVUS) between September 9, 2009, to July 15, 2010 (the “Class Period”), alleging that Vivus and certain Vivus officers and directors violated federal securities fraud laws, including the Securities Exchange Act of 1934, by allegedly issuing false and misleading financial statements relating to Vivus’s experimental weight loss drug Qnexa, according to Vivus securities fraud class action lawsuit news reports.

The Vivus securities fraud class action lawsuit complaint reportedly alleges, among other things, that Vivus failed to disclose studies conducted by Vivus submitted to the Endocrinologic and Metabolic Drugs Advisory Committee of the FDA could not support FDA Panel approval for Qnexa’s use to treat obesity as a chronic condition and that trial results allegedly showed side effects such as increased risk of suicide, cardiovascular events, and birth defects.

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