SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Vanda Pharmaceuticals Inc. (VNDA)
NEW YORK, NY / ACCESSWIRE / February 27, 2019 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Vanda Pharmaceuticals Inc. (''Vanda'' or the ''Company'') (VNDA). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/vnda1.
The investigation concerns whether Vandaand certain of its officers and/or directors have violated federal securities laws.
On October 22, 2018, the U.S. Food and Drug Administration (''FDA'') sent Vanda a Warning Letter, addressed to the Company's founder and Chief Executive Officer, Mihael H. Polymeropoulos. The Warning Letter discussed the FDA's review of Vanda's website, which the FDA found ''false and misleading'' due to its failure to disclose risks associated with the Company's products Fanapt and Hetlioz, and in violation of the Federal Food, Drug, and Cosmetic Act. On this news, Vanda's stock price fell $2.00 per share, or over 9%, over the next two trading days, closing at $20.00 per share on October 24, 2018. Then, on February 11, 2019, Aurelius Value published a report entitled, ''Vanda: In the Land of The Blind, The One-Eyed Man in King.'' This report discussed a previously unreported qui tam lawsuit which alleged that Vanda had engaged in the fraudulent promotion of Fanapt and Hetlioz for years, and further alleged that Vanda had schemed to defraud the government with fraudulent reimbursements. On this news, Vanda's stock price fell $0.95 per share, or over 5%, to close at $18.00 per share on February 11, 2019.
If you are aware of any facts relating to this investigation, or purchased Vanda shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/vnda1. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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