NEW YORK, Feb. 12, 2019 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) securities from December 22, 2014 through February 8, 2019, who have incurred losses on their investments.
In March 2017, a qui tam whistleblower complaint was filed under seal against Vanda Pharmaceuticals, Inc. ("Vanda"). The qui tam action was unsealed on January 28, 2019. Shortly after trading began on February 11, 2019, Aurelius Value published a report entitled "Vanda: In the Land of The Blind, The One-Eyed Man is King." The report summarized the whistleblower complaint and said "Vanda has engaged in a series of fraudulent schemes, some personally orchestrated by Polymeropoulos himself, to defraud government payors. The allegations describe 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."
As a result of this news, Vanda's stock price fell on Monday February 11, 2019, by $0.95 per share or 5% on heavy volume.
Vanda investors should contact Robert Finkel at (212) 759-4600 or (877) 370-7703 or at email@example.com.
Wolf Popper has successfully recovered billions of dollars for defrauded investors. The firm's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com.
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Wolf Popper LLP
Robert C. Finkel
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9620
Tel.: (877) 370-7703
Fax: (877) 370-7704
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SOURCE Wolf Popper LLP