Vanda Pharmaceuticals Inc.
(NASDAQ GM: VNDA)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Vanda Pharmaceuticals Inc. ("Vanda" or the "Company") on behalf of stockholders. A class action complaint has been filed against Vanda. The complaint alleges that defendants made materially false and/or misleading because they misinterpreted and failed to disclose adverse facts pertaining to Vanda's business and operations, which were known to defendants or recklessly disregarded by them. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Vanda was engaged in a fraudulent scheme in which the Company promoted the off-label use of Fanapt and Hetlioz; (ii) Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs; (iii) as a result of the scheme, Vanda faced legal action from the government; (iv) Vanda's promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration; and (v) as a result, defendants' statements about Vanda's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.