A lawsuit was filed on behalf of investors in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares over alleged securities laws violations. Deadline: August 26, 2013. NASDAQ:VNDA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 06/26/2013 --An investor, who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), filed a lawsuit in the U.S. District Court for the District of Columbia over alleged violations of Federal Securities Laws by Vanda Pharmaceuticals Inc. in connection certain allegedly false and misleading statements that were made between December 18, 2012 and June 18, 2013.

Investors who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) between December 18, 2012 and June 18, 2013, and /or those who purchased NASDAQ:VNDA shares prior to December 2012 and currently hold any of those NASDAQ:VNDA shares, have certain options and for certain investors are short and strict deadlines running. Deadline: August 26, 2013. NASDAQ:VNDA investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) between December 18, 2012 and June 18, 2013, that Vanda Pharmaceuticals Inc. and certain of its officers violated federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

Vanda Pharmaceuticals Inc. reported that its annual Total Revenue rose from $31.27 million in 2011 to $32.73 million in 2012 and that its respective Net Loss increased from $9.80 million to $27.66 million.

Shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) grew from $3.80 in early 2013 to as high as $13.25 per share on June 12, 2013.

The plaintiff alleges that between December 18, 2012 and June 18, 2013, defendants made allegedly false and/or misleading statements, as well as allegedly failed to disclose material adverse facts about the results of the clinical trial for tasimelteon.

On June 13, 2013, an article was published that alleged that the design of Vanda Pharmaceuticals’ primary phase III study changed numerous times, including a complete replacement of the primary endpoint just one month before study results were announced. The article also alleged that during the tasimelteon clinical trials, Vanda Pharmaceuticals cut half the patient enrollment because the blind patients with non-24 could not be identified.

Shares of Vanda Pharmaceuticals Inc. declined from over $13 per share on June 12, 2013 to as low as $8.47 per share on June 19, 2013.

On June 25, 2013, NASDAQ:VNDA shares closed at $7.70 per share.

Those who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com