NEW YORK, Aug. 9, 2013 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Vanda Pharmaceuticals, Inc. ("Vanda" or the "Company") (Nasdaq:VNDA) of the August 26, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain executives.
A complaint has been filed on behalf of all persons who purchased Vanda securities between December 18, 2012 and June 18, 2013 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the action alleges that Vanda misled investors regarding the efficacy of tasimelteon, one of the Company's products, by manipulating aspects of tasimelteon's primary Phase III study.
The Street published an article on June 19, 2013, questioning the efficacy of Vanda's clinical trial procedure. Following this news, the Company's shares dropped $2.41 or over 22%.
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If you invested in Vanda's stock or options between December 18, 2012 and June 18, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/VNDA. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Vanda's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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CONTACT: FARUQI & FARUQI, LLP 369 Lexington Avenue, 10th Floor New York, NY 10017 Attn: Richard Gonnello, Esq. email@example.com Francis McConville, Esq. firstname.lastname@example.org Telephone: (877) 247-4292 or (212) 983-9330Source:Faruqi & Faruqi LLP