SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of
Investors of Vanda Pharmaceuticals, Inc. -- VNDA
NEW YORK, June 19, 2013
NEW YORK, June 19, 2013 /PRNewswire/ --Pomerantz Grossman Hufford Dahlstrom &
Gross LLP is investigating claims on behalf of investors of Vanda
Pharmaceuticals, Inc. ("Vanda" or the "Company") (NASDAQ: VNDA)(CUSIP:
921659108) who purchased Vanda common stock between May 8, 2012 and June 18,
2013 (the "Class Period"). Such investors are advised to contact Robert S.
Willoughby at firstname.lastname@example.org 888-476-6529, ext. 237.
The investigation concerns whether Vanda and certain of its officers and/or
directors have violated Sections 10(b) and 20(a) of the Securities Exchange
Act of 1934.
On June 17, 2013, Vanda presented additional data at ENDO 2013, the Endocrine
Society's 95^thAnnual Meeting, demonstrating that tasimelteon canentrain
(synchronize) both melatonin and cortisol rhythms. The Company stated, the SET
(Safety and Efficacy of Tasimelteon) and RESET (Randomized-withdrawal study of
the Efficacy and Safety of Tasimelteon to treat Non-24-Hour Disorder) Phase
III studies were designed to assess the safety, efficacy and maintenance
effect of tasimelteon for Non-24.
On June 19, 2013, an article published on "The Street" website raised doubts
about the quality and efficacy of the Vanda's clinical trial procedure and
test data. In part, the articles stated, "Vanda tells a pretty compelling
story about the development of tasimelteon for the treatment of a rare
sleep-pattern disorder that affects blind people. Dig into the company's
clinical work on tasimelteon, however, and you'll find a disturbingly large
number of irregularities and red flags which should ring alarm bells for any
investorbetting on the drug's approval. Upon this news announcement, shares
of Vanda fell $2.65 or 24.27% in intra-day trading, to $8.27 per share.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida,
is acknowledged as one of the premier firms in the areas of corporate,
securities, and antitrust class litigation. Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the Pomerantz Firm
pioneered the field of securities class actions. Today, more than 70 years
later, the Pomerantz Firm continues in the tradition he established, fighting
for the rights of the victims of securities fraud, breaches of fiduciary duty,
and corporate misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
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