First Manhattan Chastises Vivus For Inept ManagementMani
First Manhattan Co., an investment management firm, in a letter to VIVUS, Inc. (NASDAQ:VVUS) shareholders, justified why its nine nominee directors should be elected.
The investment advisory firm castigated VIVUS, Inc. (NASDAQ:VVUS)’s board for having limited knowledge of finance. It also charged the company of ‘hemorrhaging cash’ and with a ‘poor commercial launch for the best obesity drug ever developed’.
First Manhattan Co, with a 9.9 percent stake in the company, has . . .
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