Biopharma Co. Misled Investors On Cancer Drug Progress: Suit

Law360, Los Angeles (October 31, 2013, 4:54 PM EDT) -- Vical Inc., which researches and develops biopharmaceutical products for the prevention and treatment of serious diseases, on Wednesday was hit with a putative class action in California federal court by a shareholder who says the company made false statements about the progress of cancer drug Allovectin-7.

Named plaintiff Joel Duncan, who seeks to represent investors who acquired Vical securities between Feb. 8, 2012, and Aug. 12, says Vical and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false...
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