MICU Vicuron Pharmaceuticals (MM)

Vicuron Pharmaceuticals Incorporated Misled Investors, Berger & Montague Alleges PHILADELPHIA, June 22 /PRNewswire/ -- On June 21, 2004, the law firm of Berger & Montague, P.C. (http://www.bergermontague.com/) filed a class action suit against Vicuron Pharmaceuticals Incorporated ("Vicuron" or the "Company") (NASDAQ:MICU) and certain of its officers, in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons or entities who purchased Vicuron securities from March 17, 2003 through May 24, 2004 (the "Class Period"). The Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the SEC by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities. The Complaint alleges that Vicuron misled investors about the results of Phase III clinical trial of its lead drug under development, the antifungal agent anidulafungin. In particular, the Complaint alleges that Vicuron touted the Phase III trial as demonstrating anidulafungin to be as effective as fluconazole in the treatment of esophageal candidiasis, when in fact anidulafungin was less effective according to some measures. The Complaint further asserts that the misrepresentations concerning the Phase III trial results misled investors as to the prospects of anidulafungin receiving FDA approval for commercial marketing, and the size of the market for anidulafungin if it did receive approval. On May 24, 2004, the Company announced that it would not receive FDA approval for sale of anidulafungin for esophageal candidiasis patients on the basis of the existing New Drug Application, and that the FDA had expressed concern about the higher relapse rate of anidulafungin patients compared to those receiving fluconazole. This disclosure shocked the market, which caused Vicuron common stock to lose 40% of its value in one day. The stock has not recovered. If you purchased Vicuron securities during the period from March 17, 2003 through May 24, 2004, inclusive, you may, no later than August 16, 2004, move to be appointed as a Lead Plaintiff. A Lead Plaintiff is a representative party that acts on behalf of other class members in directing the litigation. If you have sustained substantial losses in Vicuron securities during the Class Period, please contact Berger & Montague, P.C. for a more thorough explanation of the Lead Plaintiff selection process. The law firm of Berger & Montague, P.C. has over 50 attorneys, all of whom represent plaintiffs in complex litigation. The Berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries of several billion dollars to investors. The firm has served as lead counsel in many securities fraud actions involving pharmaceutical products, including actions against U.S. Bioscience, Synergen, and Centocor. The firm has also represented investors as lead counsel in actions against companies including Rite Aid, Sotheby's, Waste Management, Inc., Sunbeam, Boston Chicken and IKON Office Solutions, Inc. The standing of Berger & Montague, P.C. in successfully conducting major securities and antitrust litigation has been recognized by numerous courts. For example: "Class counsel did a remarkable job in representing the class interests." In Re: IKON Office Solutions Securities Litigation. Civil Action No. 98-4286(E.D. Pa.) (partial settlement for $111 million approved May 2000). "...[Y]ou have acted the way lawyers at their best ought to act. And I have had a lot of cases...in 15 years now as a judge and I cannot recall a significant case where I felt people were better represented than they are here ... I would say this has been the best representation that I have seen." In Re: Waste Management, Inc. Securities Litigation, Civil Action No. 97-C 7709 (N.D. Ill.) (settled in 1999 for $220 million). If you purchased Vicuron securities during the Class Period, please visit our website at http://www.bergermontague.com/ to view the complaint and join the class action or if you have any questions concerning this notice or your rights with respect to this matter, please contact: Sherrie R. Savett, Esquire Arthur Stock, Esquire Diane Werwinski, Investor Relations Manager Berger & Montague, P.C. 1622 Locust Street Philadelphia, PA 19103 Phone: 888-891-2289 or 215-875-3000 Fax: 215-875-5715 Website: http://www.bergermontague.com/ e-mail: DATASOURCE: Berger & Montague, P.C. CONTACT: Sherrie R. Savett, Esquire, Arthur Stock, Esquire, or Diane Werwinski, Investor Relations Manager, all of Berger & Montague, P.C., +1-888-891-2289 or +1-215-875-3000, Fax: +1-215-875-5715, e-mail: Web site: http://www.bergermontague.com/

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