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VNDA.US
id: 335
It is still possible to file a late claim. The court will decide whether to accept late claims or not.
E.D. New York
Court
04 Nov 2015
Class period Start
11 Feb 2019
Class period End
28 Dec 2022
Claim deadline
Kenneth Gordon, et al. v. Vanda Pharmaceuticals Inc., et al.

Vanda Pharmaceuticals (VNDA) agreed to pay $11.5 million to settle a securities class action lawsuit accusing the Company of deceiving investors about user engagement in 2015.

The Complaint alleged the Company made false and/or misleading statements and/or failed to disclose that:
  • Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz;
  • Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs;
  • as a result of the scheme, Vanda faced legal action from the government;
  • Vanda’s promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration;
Vanda agreed to settle with investors to avoid further litigation.
Case Status
Accepting Late Claims
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Attorneys
The Rosen Law Firm, P.A.,Robbins Geller Rudman & Dowd LLP
Judge
Hon. Allyne R. Ross
Administrator
EPIQ
Trades matching type
FIFO
+$11,500,000
Cash Settlement Amount

Vanda Pharmaceuticals Inc

Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of therapies to address high unmet medical needs worldwide. The company's marketed products...

    Ticker
    VNDA.US
    ISIN
    US9216591084
    CIK
    1347178
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    2200 Pennsylvania Avenue NW, Washington, DC, United States, 20037