Vanda Pharmaceuticals Inc. investors have asked a federal judge to sign off on a $11.5 million deal to end their lawsuit alleging the drug maker misled them about alleged off-label promotion of two Vanda drugs.
The agreement represents about 10% of damages that could be reasonably recovered and is a “very good result” for Vanda investors, the lead plaintiff, Teamsters Local Union No. 727 Pension Fund, said in a filing Thursday in the U.S. District Court for the Eastern District of New York.
Robbins Geller Rudman & Dowd LLP, lead counsel for the plaintiffs, is seeking about $3.8 million in ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.