NOTICE For Investors In NASDAQ: VNDA Shareholder Notice: Update in Lawsuit Against Vanda Pharmaceuticals Inc. Announced by Shareholders Foundation

San Diego, California--(Newsfile Corp. - May 4, 2021) - The Shareholders Foundation, Inc. announces an update in the lawsuit that is pending for certain investors in NASDAQ: VNDA shares.

Investors, who purchased shares of Vanda Pharmaceuticals Inc. VNDA in November 2015 or earlier and continue to hold NASDAQ: VNDA shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 25, 2019, a lawsuit was filed against Vanda Pharmaceuticals Inc. over alleged violations of Securities Laws. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz, that Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs, that as a result of the scheme, Vanda faced legal action from the government, that Vanda's promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration, and that 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.

On July 23, 2019, an amended complaint was filed and on June 9, 2020, the defendants filed their motion to dismiss the case. On March 10, 2021, the court denied in part the defendant's motion to dismiss the case.

Those who purchased Vanda Pharmaceuticals Inc. VNDA shares should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.