Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the District of
Columbia on behalf of investors who purchased Vanda Pharmaceuticals,
Inc. (“Vanda” or the “Company”) (NasdaqGM: VNDA) stock between December
18, 2012 and June 18, 2013.
For more information, click here: http://zlk.9nl.com/vanda-pharmaceuticals-vnda/.
The complaint alleges that defendants violated federal securities laws
by issuing materially false and misleading statements and/or failing to
disclose materially adverse facts concerning the Company’s Phase III
testing of the drug Tasimelteon. In particular, it is alleged that, in
the middle of the Phase III studies, Vanda altered the primary endpoint
to one never before used in a sleep-drug clinical trial—and not endorsed
by the FDA—when data suggested the original endpoint would not be met.
On June 19, 2013, an article was published on thestreet.com, questioning
the efficacy of Vanda’s study, noting that the study not only changed
multiple times, but that it replaced the primary endpoint just a month
before study results were announced. On the news, shares of Vanda closed
at $8.51 per share on June 19, 2013, a drop of more than 20% from the
previous day.
If you suffered a loss in Vanda you have until August 26, 2013 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/vanda-pharmaceuticals-vnda/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
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