Shuman, Glenn & Stecker Investigates Vanda Pharmaceuticals Inc.
March 18 2021 - 4:26PM
Business Wire
Shuman, Glenn & Stecker announces that it is investigating
potential claims against certain officers and directors of Vanda
Pharmaceuticals, Inc. (“Vanda” or the “Company”) (Nasdaq: VNDA).
Vanda is a pharmaceutical development company.
The Firm’s investigation relates to allegations raised in a
securities class action against Vanda and certain of its senior
officers in the U.S. District Court for the Eastern District of New
York. The complaint alleges that between 2015 and 2019, Vanda was
involved in a fraudulent scheme that included violations of federal
Medicare, Medicaid, and Tricare programs to promote its drugs
Fanapt and Hetlioz for “off-label”. The complaint further alleges
that Vanda's executives and officers knew about the prohibited
promotional strategies and actively participated in the fraudulent
activity. When the truth was revealed, Vanda's stock declined over
5%.
On March 10, 2021, U.S. District Judge Frederic Block denied
Vanda and its CEO’s motion to dismiss the securities class action
against, paving the way for the case to proceed towards trial.
If you currently own Vanda common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip Shuman toll free at (866)
569-4531 or email Mr. Shuman at kip@shumanlawfirm.com.
Shuman, Glenn & Stecker represents investors throughout the
nation, concentrating its practice in stockholder litigation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210318005964/en/
SHUMAN, GLENN & STECKER Kip B. Shuman, Esq. 100 Pine Street,
Suite 1250 San Francisco, CA 94111 Tel: 866.569.4531 Fax:
303.536.7849 Email: kip@shumanlawfirm.com Web:
www.shumanlawfirm.com
Vanda Pharmaceuticals (NASDAQ:VNDA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vanda Pharmaceuticals (NASDAQ:VNDA)
Historical Stock Chart
From Apr 2023 to Apr 2024