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.
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For more information, click here:
http://zlk.9nl.com/vanda-pharmaceuticals-vnda/.
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 until August 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 jlevi@zlk.com or by telephone at (877) 363-5972, or
visit http://zlk.9nl.com/vanda-pharmaceuticals-vnda/.
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.
CONTACT:
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
www.zlk.com
SOURCE Levi & Korsinsky, LLP