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Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) Investor Alert: Investigation over potential Wrongdoing

08-08-2020 01:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) shares over potential wrongdoing.

An investigation on behalf of investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain directors at Vanda Pharmaceuticals Inc. (NASDAQ: VNDA.

Investors who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) and currently hold any of those Vanda Pharmaceuticals Inc. (NASDAQ: VNDA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Vanda Pharmaceuticals Inc. (NASDAQ: VNDA officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On February 25, 2019, a lawsuit was filed against Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) over alleged violations of Federal Securities Laws. The plaintiff claimed that between November 4, 2015 and February 11, 2019, the defendants 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.

Those who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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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