Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Vanda Pharmaceuticals Inc.

LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24VNDA&src=ctag” target=”_blank”gt;$VNDAlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP
(“GPM”) reminds investors of the April
26, 2019 
deadline to file a lead plaintiff motion in the class
action filed on behalf of investors who purchased Vanda Pharmaceuticals
Inc. (“Vanda” or the “Company”) (NASDAQ: VNDA)
securities between November 4, 2015 and February 11, 2019,
inclusive (the “Class Period”). Vanda investors have until April
26, 2019
 to file a lead plaintiff motion in this class action.

If you are a shareholder who suffered a loss, click here to
participate.

If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.

On February 11, 2019, Aurelius Value published an article reporting that
a Qui Tam lawsuit filed by a whistleblower was recently unsealed,
containing allegations of “illegal off-label promotion of both of
Vanda’s drugs, Vanda’s participation in a fraud involving doctors
writing hundreds of ‘fake prescriptions’ and pocketing cash using
Vanda-issued copay cards, falsified documents in internal systems, and
resignations of senior executives who refused to participate in illegal
activity.”

On this news, Vanda’s share price fell $0.95 per share, or over 5%, to
close at $18.00 per share on February 11, 2019, thereby injuring
investors.

The Complaint filed in this class action alleges that Defendants made
materially false and misleading statements and/or failed to disclose
that: (1) Vanda was engaged in a fraudulent scheme in which it promoted
the off-label use of Fanapt and Hetlioz; (2) the company was
fraudulently receiving drug reimbursements from the government by
abusing Medicare, Medicaid, and Tricare programs; (3) as a result of the
scheme, Vanda faced legal action from the government; (4) Vanda’s
promotional materials for Fanapt and Hetlioz were false and misleading,
garnering regulatory scrutiny from the U.S. Food and Drug
Administration; and (5) as a result, defendants’ statements about
Vanda’s business, operations and prospects were materially false and
misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased or otherwise acquired Vanda securities during the Class
Period you may move the Court no later than April 26, 2019 to
request appointment as lead plaintiff in this putative class action
lawsuit. To be a member of the class action you need not take any action
at this time; you may retain counsel of your choice or take no action
and remain an absent member of the class action. If you wish to learn
more about this class action, or if you have any questions concerning
this announcement or your rights or interests with respect to the
pending class action lawsuit, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at 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.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com