A lawsuit was filed on behalf of investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 03/04/2019 -- An investor, who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA), filed a lawsuit over alleged violations of Federal Securities Laws by Vanda Pharmaceuticals Inc.
Investors who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) have certain options and for certain investors are short and strict deadlines running. Deadline: April 26, 2019. NASDAQ: VNDA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between November 4, 2015 and February 11, 2019, thedefendants made false and/or misleading statements and/or failed to disclose that Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz, that Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs, that as a result of the scheme, Vanda faced legal action from the government, that Vanda's promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration, and that 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, an article was published reporting that a Qui Tam lawsuit filed by a whistleblower was recently unsealed, containing allegations of "illegal off-label promotion of both of Vanda's drugs, Vanda's participation in a fraud involving doctors writing hundreds of 'fake prescriptions' and pocketing cash using Vanda-issued copay cards, falsified documents in internal systems, and resignations of senior executives who refused to participate in illegal activity."
Those who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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