NEW YORK, Feb. 27, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP, a nationally acclaimed investor rights law
firm, announces that a securities class action lawsuit has
been filed on behalf of those who purchased or acquired the
securities of Vanda Pharmaceuticals Inc. ("Vanda" or the
"Company") (NASDAQ: VNDA) between November 4, 2015 and
February 11, 2019, both dates
inclusive (the "Class Period"). The lawsuit seeks to recover
Vanda shareholders' investment losses.
If you purchased Vanda securities, and/or would like to
discuss your legal rights and options, please visit Vanda
Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414
or dsadeh@bernlieb.com.
According to the lawsuit, throughout the Class Period,
Defendants made false and/or misleading statements and/or failed to
disclose that: (1) Vanda was engaged in a fraudulent scheme in
which the Company promoted the off-label use of Fanapt and Hetlioz;
(2) Vanda was fraudulently receiving drug reimbursements from the
government by abusing Medicare, Medicaid, and Tricare programs; (3)
as a result of the scheme, Vanda faced legal action from the
government; (4) Vanda's promotional materials for Fanapt and
Hetlioz were false and misleading, garnering regulatory scrutiny
from the FDA; and (5) as a result, Defendants' statements about
Vanda's business, operations and prospects were materially false
and misleading and/or lacked a reasonable basis at all relevant
times
On February 11, 2019, Aurelius
Value published a report entitled, "Vanda: In the Land of The
Blind, The One-Eyed Man in King." This report revealed a previous
unreported qui tam lawsuit which disclosed Vanda's years of
fraudulent promotion of Fanapt and Hetlioz as well as Vanda's
scheme to defraud the government with fraudulent
reimbursements.
On this news, shares of Vanda fell $0.95 per share or over 5% to close at
$18.00 per share on February 11, 2019, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than April 26, 2019. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If
you choose to take no action, you may remain an absent class
member.
If you purchased Vanda securities, and/or would like to
discuss your legal rights and options, please visit
https://www.bernlieb.com/cases/vanda-pharmaceuticals-inc-vnda-lawsuit-class-action-fraud-stock-111/ or
contact Daniel Sadeh toll free at
(877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and listed in
The Legal 500 for ten consecutive years.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
dsadeh@bernlieb.com
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SOURCE Bernstein Liebhard LLP