SAN DIEGO, March 7, 2019 /PRNewswire/ -- Shareholder
rights law firm Johnson Fistel, LLP reminds investors that a class
action lawsuit has been filed against Vanda Pharmaceuticals Inc.
("Vanda") (NASDAQ: VNDA) on behalf of all purchasers of common
stock during the period between November 4,
2015 through February 11,
2019, inclusive (the "Class Period").
If you wish to serve as a lead plaintiff, you must move the
Court no later than April 26, 2019.
If you wish to discuss this action, have any questions concerning
this notice, or your rights or interests, please contact lead
analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If you email,
please include your phone number.
Additionally, you can [click here to join this
action]. There is no cost or obligation to you.
According to the complaint, on March 10,
2017 a whistleblower action detailing misconduct at Vanda
was filed, but was not unsealed until February 4, 2019. On February 11, 2019, private investment firm
Aurelius Value published a report revealing the existence of the
whistleblower action. The report also revealed additional details
about Vanda's misconduct, including that it had for years
fraudulently promoted its drugs, Fanapt and Hetlioz, and engaged in
a scheme to defraud the government.
The complaint alleges that defendants made false and/or
misleading statements and/or failed to disclose that: (1) Vanda was
engaged in a fraudulent scheme in which it 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 U.S. Food and
Drug Administration; 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. When the true details entered the market, the
lawsuit claims that investors suffered damages.
Plaintiff seeks to recover damages on behalf of all
purchasers of Vanda common stock during the Class Period,
November 4, 2015 through February 11,
2019; you can [click here to join this
action]. There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP