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 been the most active critic, claiming the company’s management lacked experience to launch a major drug. Negligible Stock Ownership In its letter to the drug development company’s shareholders,…
First Manhattan Chastises Vivus For Inept Management
Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports