Shareholders Sue Voyager Execs Over Failed IPO

Law360, New York (October 25, 2006, 12:00 AM EDT) -- A shareholder lawsuit has been filed against two top executives at Voyager Pharmaceutical alleging they duped investors by overstating the company’s value when it attempted to go public in December.

A South Carolina businessman, who holds 1,000 shares in the company, filed the suit in the Delaware Chancery Court on Oct. 11, accusing the executives of misleading investors about the initial public offering of stock from the start, The News & Observer reported Wednesday.

The company executives were aiming to take in $100 million through the...
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