NEW YORK, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Vanda Pharmaceuticals Inc. (NASDAQ: VNDA). Our investigation concerns whether Vanda has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 11, 2019, Aurelius Value published an article titled, “Vanda: In the Land of The Blind, The One-Eyed Man is King.” According to this article, a 150-page whistleblower lawsuit contains detailed allegations that, “Vanda has engaged in a series of fraudulent schemes, some personally orchestrated by [its CEO], to defraud government payors.” The whistleblower lawsuit alleges “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 this news, Vanda’s share price has fallen by more than 6% intraday.
If you purchased or otherwise acquired Vanda shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Vanda please go to https://bespc.com/vnda/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.