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Federman & Sherwood Reminds Investors of IMMINENT LEAD PLAINTIFF DEADLINE in Securities Class Action Lawsuit against Vanda Pharmaceuticals, Inc.

To join this class action, please complete the following Investor Certification. 


Plaintiff Certifies That:

The following information is true and correct to the best of my knowledge, information and belief:

1. I have reviewed the Complaint in this action and authorize the filing of this Certification as an exhibit to the Complaint, or any substantively similar complaint or amended complaint to be filed in the future. I retain the law office of Federman & Sherwood, and any other counsel with whom Federman & Sherwood deems appropriate to associate with, to pursue this action on my behalf on a contingency fee basis.

2. If chosen, I am willing to serve as a representative party on behalf of the class (the “Class”), either individually or as part of a group on behalf of the Class as defined in the Complaint, including providing testimony at deposition or trial (if necessary). I am also willing to participate on an executive committee of shareholders.

3. I made the following transaction(s) during the Class Period in Vanda Pharmaceuticals, Inc. (NASDAQ: VNDA) securities (which are the subject of this action) as follows:


4. I did not purchase these securities at the direction of my attorney or in order to participate in a lawsuit under the Securities Act of 1933 or the Securities Exchange Act of 1934.

5. During the 3-year period preceding the date of this Certification, I have not sought to serve, nor have I served, as a representative to any party or on behalf of any class in any action arising under the Securities Act of 1933 or the Securities Exchange Act of 1934.

6. I will not accept any payment if chosen to serve as a representative party on behalf of the Class beyond my pro rata share of an award to the Class, or as otherwise ordered and approved by the Court, except for such reasonable costs and expenses directly relating to my service as a representative of the Class and as ordered and approved by the Court.












By clicking on the button below, I intend to sign and execute this agreement and retain Federman & Sherwood to proceed on Plaintiff’s behalf on a contingency basis.

Oklahoma City, OK (February 26, 2019) – On February 25, 2019, a securities class action lawsuit was filed in the United States District Court for the Eastern District of New York against Vanda Pharmaceuticals, Inc. (NASDAQ: VNDA).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is November 4, 2015 through February 11, 2019.  According to the complaint, a whistleblower action detailing misconduct at Vanda was filed on March 10, 2017, 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.

Accordingly, 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.

Plaintiff seeks to recover damages on behalf of all Vanda Pharmaceuticals, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Friday, April 26, 2019 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.                  

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com

 

 

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