×

APB Financial Group and Hedge Fund Solutions to Host Webcast to Discuss First Manhattan Co's Activist Investment in VIVUS, Inc.

NEW YORK, May 10, 2013 (GLOBE NEWSWIRE) -- APB Financial Group today announced that Damien Park, Managing Partner at Hedge Fund Solutions, will interview two of First Manhattan's nominees for election to VIVUS Inc.'s (Nasdaq:VVUS) Board of Directors as part of APB's ongoing series of interviews on shareholder activism.

The director nominees to be interviewed include Dr. Sam Colin, Partner and Senior Managing Director of First Manhattan Co., and Michael Astrue, the former Commissioner of the Social Security Administration and former CEO of Transkaryotic Therapies, a biotech company whose stock price rose under his two-year tenure from $3.80 to $37.00 before it was sold to Shire plc.

First Manhattan, a VIVUS 9.7% shareholder, is seeking to replace six of the Company's seven directors at VIVUS' 2013 Annual Shareholders Meeting, which is scheduled for July 15, 2013. Shareholders of record on May 30, 2013 will be entitled to vote at the meeting.

Steven Abernathy, CEO of APB Financial Group stated, "We are pleased to offer this forum in which VIVUS' current and prospective investors can hear directly from two of First Manhattan's nominees about how they intend to increase shareholder value if elected to the Company's board in July."

In addition to the webcast interview, qualified investors will receive a complimentary copy of Hedge Fund Solutions' activist investing research for VIVUS. The 30-minute webcast is scheduled to take place on Tuesday, May 14, at 3:00 PM EDT.

To receive more information about APB Financial Group's activist investing broker-dealer services and activist investing research, or, to be considered for an invitation to this webcast, please contact Brian Luster at 212-293-3463 or email bluster@abbygroup.com.

About APB Financial Group

APB Financial Group is a full service, independent broker dealer, offering independent research, discreet sales and trading, selective capital introduction and commission management. The Shareholder Rights Division of APB Financial is a Fundamental-Value and Catalyst-Driven independent research provider, dedicated to offering financial services, hedging strategies and other resources to the activist and investment community. APB Financial Group is a member of FINRA, SIPC. For additional information contact Steven Abernathy at APB Financial Group at 212-293-3469 or by email at sabernathy@abbygroup.com.

About Hedge Fund Solutions, LLC

Hedge Fund Solutions is a specialized research and consulting firm focused on providing substantive solutions for investors and companies on issues relating to activist investing. Hedge Fund Solutions issues Catalyst Investment Research™ – research that singles out companies with extraordinary value potential where activist investors have taken sizeable investment positions and are pressing management to unlock hidden pockets of value. For additional information contact Damien Park at 215-325-0514 or by email at dpark@hedgerelations.com.

About the Moderator

Damien Park, Hedge Fund Solutions

Mr. Park is a leading expert in the area of shareholder activism and corporate governance and is regularly retained by investment professionals and boards of directors seeking dependable counsel in this area. He is the co-chairman of The Conference Board's Expert Committee on Shareholder Activism, the past chairman of the Hedge Fund Activism & Shareholder Value Summit, and is often quoted in The Wall Street Journal, The New York Times, Financial Times, BusinessWeek, CFO Magazine, The Nikkei and Newsweek Japan.

About First Manhattan Co's Nominees Being Interviewed

Dr. Sam Colin, First Manhattan Co

Sam Colin, MD joined First Manhattan Co. (FMC), an investment firm founded in 1964 with more than $14 billion in assets currently under management, in 1994 and is the founding and sole portfolio manager of FMC's healthcare funds, First Health and First BioMed, with assets under management exceeding $500 million. In addition, he advises the firm on healthcare investments. He has invested in hundreds of small to large-cap healthcare companies including biotechnology, pharmaceuticals, and medical device companies in the US, EU and Japan. He has an extensive knowledge of the clinical, commercial and regulatory history of obesity therapeutics and was a major participant in the recapitalization of Orexigen, an obesity therapeutics company, at $1.45 per share in December 2011. Prior to joining FMC, Dr. Colin served as an intern and resident at the Yale-New Haven Hospital from 1992-1994. He received his M.D. from Yale School of Medicine in 1992, and graduated from Brown University, B.Sc. Human Biology, magna cum laude, in 1986.

Michael Astrue

Mr. Astrue most recently served as Commissioner of the Social Security Administration from 2007 to 2013, and was one of six Trustees of the Medicare & Social Security Trust Funds. He was recruited as Interim Chief Executive Officer to turn around Epix Pharmaceuticals from 2005 to 2006, during which time he successfully engineered the company's merger. Prior to that, he served as President and Chief Executive Officer of Transkaryotic Therapies where he executed one of the most successful corporate turnarounds in the history of the biotechnology industry. Under his stewardship, Transkaryotic Therapies' share price increased from $3.80 at the start of his tenure to $37.00 when the company was sold two years later for $1.6 billion. He has served as Chairman of the Massachusetts Biotechnology Council from 2000 to 2002 and on the public company boards of Transkaryotic Therapies, ArQule Inc., CuraGen Corporation and Tercica Inc. Other senior roles Mr. Astrue has held during his distinguished 30 year career include serving as Vice President & General Counsel at Biogen from 1993 to 1999, General Counsel for the U.S. Department of Health & Human Services from 1989 to 1992, and Associate Counsel to Presidents Ronald Reagan and George Bush from 1988 to 1989, among other roles. Mr. Astrue received a J.D. from Harvard Law School and B.A. in Philosophy & English from Yale University.

CONTACT: APB Financial Group Brian Luster at 212-293-3463 or email bluster@abbygroup.com Steven Abernathy 212-293-3469 or email sabernathy@abbygroup.com Hedge Fund Solutions, LLC Damien Park at 215-325-0514 or by email at dpark@hedgerelations.comSource:APB Financial Group, LLC