Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (8991)	8/25/2003 4:49:18 PM
From: tuck	Read Replies (1) \| Respond to of 52153

This looks interesting. Comments? >>ANN ARBOR, Mich., Aug. 25 /PRNewswire-FirstCall/ -- Esperion Therapeutics, Inc. (Nasdaq: ESPR - News) today announced that it has commenced litigation against Scott Sacane, Durus Capital Management, LLC, Durus Capital Management (NA), LLC and Durus Life Sciences Master Fund, Ltd. (together, the Sacane Group) in United States District Court in Connecticut. On July 25, 2003, Esperion learned that the Sacane Group had become the beneficial owners of almost 33% of the Company's then outstanding common stock. The Sacane Group had not previously disclosed these transactions to the Company. The lawsuit seeks recovery of profits made by the Sacane Group from purchases and sales of Esperion common stock that represent short-swing transactions under Section 16(b) of the Securities Exchange Act of 1934, as well as equitable relief and attorneys' fees. The Company will also continue to explore opportunities to work cooperatively with the Sacane Group to resolve this matter. "After careful review of the events related to this action and the options available to Esperion, we feel that this lawsuit represents the best course of action to protect the interests of Esperion and its stockholders," said Roger S. Newton, Ph.D., President and CEO of Esperion Therapeutics. "We remain focused on our efforts to discover and develop new HDL-targeted therapies for the treatment of cardiovascular disease while we work towards a favorable resolution to this matter."<< snip Cheers, Tuck