UPCOMING DEADLINE: Levi & Korsinsky Notifies Investors with Losses on Their
Investment in Vanda Pharmaceuticals, Inc. of Class Action Lawsuit and the
Deadline of August 24, 2013 to Seek a Lead Plaintiff Position
NEW YORK, Aug. 6, 2013
NEW YORK, Aug. 6, 2013 /PRNewswire/ --Levi & Korsinsky announces that a class
action lawsuit has been commenced in the United States District Court for the
District of Columbia on behalf of investors who purchased Vanda
Pharmaceuticals, Inc. ("Vanda" or the "Company") (NasdaqGM: VNDA) stock
between December 18, 2012 and June 18, 2013.
(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO )
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The complaint alleges that defendants violated federal securities laws by
issuing materially false and misleading statements and/or failing to disclose
materially adverse facts concerning the Company's Phase III testing of the
drug Tasimelteon. In particular, it is alleged that, in the middle of the
Phase III studies, Vanda altered the primary endpoint to one never before used
in a sleep-drug clinical trial—and not endorsed by the FDA—when data suggested
the original endpoint would not be met.
On June 19, 2013, an article was published on thestreet.com, questioning the
efficacy of Vanda's study, noting that the study not only changed multiple
times, but that it replaced the primary endpoint just a month before study
results were announced. On the news, shares of Vanda closed at $8.51 per share
on June 19, 2013, a drop of more than 20% from the previous day.
If you suffered a loss in Vanda you have untilAugust 24, 2013 to request
that the Court appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To obtain
additional information, contact Joseph E. Levi, Esq. either via email at
firstname.lastname@example.org or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. Attorney advertising. Prior
results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP
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