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Vivera Files Response Defending Itself Against The SEC's Recent Threat Of A Civil Suit
By: PR Newswire Association LLC. - 01 Oct 2022Back to overview list

NEWPORT BEACH, Calif., Sept. 30, 2022 /PRNewswire/ -- Vivera Pharmaceuticals, Inc. ("Vivera") announces that it has responded to a recent Wells Notice from the Los Angeles Staff of the U.S. Securities and Exchange Commission ("SEC") that threatens a civil lawsuit against the Company. Vivera notified the SEC in advance that any such lawsuit by the SEC- a civil agency - would be without merit and sees the SEC's filing of litigation as being politically motivated. Regardless of the sources SEC believes it may rely upon, Vivera maintains that the facts speak for themselves and that distortion of these facts are not in the best interest of any party.

In further response to the SEC's recent Wells Notice, Vivera has retained SEC defense experts, John A. Sten and Ivan Knauer of the law firm, Armstrong Teasdale. These former SEC lawyers have a long history of aggressively defending companies wrongfully accused of securities laws violations and have obtained outright dismissal of SEC cases by the judge on numerous occasions; as well as successfully obtaining jury verdicts against the SEC where necessary—in some cases with as little as 45 minutes of post-trial jury deliberations. 

The SEC staff does not maintain any specific factual allegations against the Company. But in speaking with the SEC, Vivera's lawyers have learned that the SEC claims that it believes Vivera's investors were misled about the nature of Vivera's license to its TABMELT® technology and about Vivera's public litigation proceedings against Alternate Health, Inc. – a now-defunct company - regarding the scope of the TABMELT® license. Vivera vehemently denies these meritless allegations and disagrees with the SEC's purported claims. 

Despite the injurious actions being undertaken by the SEC, Vivera remains open to reaching a resolution of this matter before any action is filed but cannot guarantee that it will be successful. To this end, Vivera will continue to cooperate with the SEC in an attempt to educate its staff as to what Vivera sees as the true facts of this matter. Should negotiations with the SEC fail, however, Vivera is prepared to vigorously defend itself through trial.

About Vivera Pharmaceuticals

Vivera Pharmaceuticals is an innovative, science-driven pharmaceutical company located in Southern California. The Company has global exclusivity to license the patented and patent-pending TABMELT sublingual drug delivery system for pharmaceutical use and holds its own issued patents on ZICOH, a smart dose-controlled electronic medical device. The Company has also received a Notice of Allowance for its portable telemedicine station, MDZone. With multiple divisions, including its pharmaceutical, neurosciences, medical technology, biosciences, and advanced diagnostics divisions, Vivera Pharmaceuticals is vertically integrated with patented technology, manufacturing capabilities, and distribution for its products.

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Ashley LeVine 

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SOURCE Vivera Pharmaceuticals, Inc.

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