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Lawsuit for Investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) shares announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / April 15, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Vanda Pharmaceuticals Inc. (VNDA) shares.

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

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."

On February 25, 2019 a lawsuit was filed against Vanda Pharmaceuticals Inc over alleged Securities Laws Violations. The plaintiff alleges that 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 Vanda Pharmaceuticals Inc. (VNDA) shares should contact the Shareholders Foundation, Inc.

CONTACT:

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

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.



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