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SAN FRANCISCO, March 28, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) of the April 26, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired Vanda securities between November 4, 2015 and February 11, 2019 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information about the case or to inquire about serving as Lead Plaintiff click
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, during the class period Defendants misled investors about (1) Vanda’s engagement in a fraudulent scheme in which it promoted the off-label use of 2 drugs (Fanapt and Hetlioz), (2) Vanda’s fraudulent receipt of drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs, and (3) Vanda’s use of misleading promotional materials for the drugs.
On February 11, 2019, Aurelius Value published a link to the U.S. Department of Health and Human Services’ and several States’ unsealed complaint, which charges Vanda violated and continues to violate Federal and State false claims acts and applicable regulatory and ethical guidance by submitting fraudulent bills to the government as a result of off-label marketing and other prohibited marketing strategies.
“We’re focused on matters raised in the Federal and States complaint that, if true, could have misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Vanda should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email VNDA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 78 attorneys in 9 offices across the country. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000