Vanda Pharma Investor Accuses Brass Of Off-Label Marketing

Law360 (September 12, 2019, 4:46 PM EDT) -- A Vanda Pharmaceuticals Inc. investor filed a derivative suit in Delaware federal court Wednesday claiming company officers covered up a "widespread" off-label marketing scheme to sell two drugs to patients they were not meant to treat, leading to a drop in the company's stock price when the scheme came to light.

In a 117-page complaint, shareholder Michael Bavaro asserted that Vanda's founder and CEO Mihael H. Polymeropoulos, who is a psychiatrist, and seven other current or former company directors and officers breached their fiduciary duty to the company by making "materially false and misleading statements and omissions" related to the sale...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!