Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Vanda
LOS ANGELES -- June 27, 2013
Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been
filed in the United States District Court for the District of Columbia on
behalf of a class (the “Class”) comprising all purchasers of the securities of
Vanda Pharmaceuticals, Inc. (“Vanda” or the “Company”) (NASDAQ:VNDA) between
December 18, 2012 and June 18, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW &
GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212)
682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF
YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND
NUMBER OF SHARES PURCHASED.
Vanda is a biopharmaceutical company engaged in the development and
commercialization of products for the treatment of central nervous system
disorders, including tasimelteon -- a treatment for circadian rhythm sleep
disorders (CRSD) and currently in clinical development for a serious, rare
CRSD known as “Non-24.” The Complaint alleges that during the Class Period the
Company issued false and/or misleading statements and/or failed to disclose
that: (a) the Company was forced to unilaterally change the primary endpoint
in the middle of the tasimelteon Phase III studies as it was in possession of
data suggesting the original primary endpoint would not be met; (b) the
Company eliminated nighttime total sleep as the primary endpoint in its
studies as there was no discernible difference in efficacy and safety in
nighttime total sleep between those patients deemed to have Non-24 and those
patients with a normal circadian rhythm; (c) the replacement primary endpoint
installed to assess tasimelteon’s efficacy and safety was created by the
Company based on predicted results and has never been used before in
sleep-drug clinical trials, nor was it endorsed by the Food and Drug
Administration; and (d) as a result of the foregoing, the Company’s statements
were materially false and misleading at all relevant times.
If you are a member of the Class described above you may move the Court no
later than 60 days from June 25, 2013 to serve as lead plaintiff; however, you
must meet certain legal requirements.
If you wish to learn more about this action or if you purchased Vanda
securities prior to the Class Period and have any questions concerning this
announcement or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at
(888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg
LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212)
682-5340, by e-mail to email@example.com, or visit our website at
http://www.glancylaw.com. If you inquire by email please include your mailing
address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
(212) 682-5340 or (888) 773-9224
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