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BOSTON, April 17, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against Vanda Pharmaceuticals Inc. (“Vanda” or the “Company”) (NASDAQ: VNDA) and certain of its officers alleging violations of the federal securities laws. Shareholders are encouraged to contact Block & Leviton LLP to learn more.
The complaint which was filed in U.S. District Court for the Eastern District of New York, alleges that throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) Vanda was engaged in a fraudulent scheme in which the Company 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; and (3) Vanda's promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the FDA.
If you have purchased or otherwise acquired Vanda securities between November 4, 2015, and February 11, 2019, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Block & Leviton LLP at (888) 868-2385, by email at firstname.lastname@example.org, or by visiting http://shareholder.law/vanda.
Additionally, those interested in serving as lead Plaintiff must apply do so before the April 26, 2019, lead plaintiff deadline.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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SOURCE Block & Leviton LLP