A Deadline is coming up on August 26, 2013 in the lawsuit for investors in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) and NASDAQ:VNDA stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 08/13/2013 -- A deadline is coming up on August 26, 2013 in the lawsuit filed for investors of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) over alleged securities laws violations by Vanda Pharmaceuticals connection certain allegedly false and misleading statements.
Investors with a substantial investment in Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) shares between December 18, 2012 and June 18, 2013, should get active before the Deadline that is coming up on August 26, 2013, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the District of Columbia the plaintiff alleges on behalf of purchasers 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. 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 $7.54 per share on June 24, 2013.
On August 12, 2013, NASDAQ:VNDA shares closed at $10.89 per share.
Those who purchased shares of Vanda Pharmaceuticals Inc. (NASDAQ:VNDA), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego