SAN DIEGO, March 17, 2021 (GLOBE NEWSWIRE) -- National law firm Barr Law Group is investigating the actions of the officers and board of directors of Vanda Pharmaceuticals Inc., Velodyne Lidar, Inc., Lordstown Motors Corporation, and Abbott Laboratories. If you are a current owner of shares of any of these stocks, contact leo@barrlaw.com or call (619) 400-4966.
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) Shareholder Lawsuit Update
Barr Law Group is investigating Vanda Pharmaceuticals Inc. regarding possible breaches of fiduciary duties and other violations of law, including securities claims on behalf of shareholders. On March 10, 2021, Judge Frederic Block of the United States District Court for the Eastern District of New York issued an order denying the company’s motion to dismiss in the pending securities class action, paving the way for litigation to proceed. According to the complaint against Vanda Pharmaceuticals for alleged violations of the Securities Exchange Act of 1934, defendants misled investors about the company’s competitive advantage and hid that the company was engaged in a fraudulent scheme in which the company promoted the off-label use of two primary products that treat central nervous system disorders — Fanapt and Hetlioz. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.
Velodyne Lidar, Inc. (NASDAQ: VLDR) Shareholder Rights Investigation
Barr Law Group is investigating Velodyne Lidar, Inc. regarding possible breaches of fiduciary duties and other violations of law, including securities claims on behalf of shareholders. On February 22, 2021, Velodyne announced that the Board had "removed David Hall as Chairman of the Board and terminated Marta Hall's employment as Chief Marketing Officer of the Company" after the Audit Committee's investigation "concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to certain Board and Company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with Company officers and directors." In addition, the Company announced that Velodyne's Board formally censured Mr. Hall and Ms. Hall, but that they would remain directors of Velodyne. On this news, Velodyne's common stock fell $3.14, or approximately 15%, to close at $17.97 per share on February 22, 2021, on unusually heavy trading volume. Additionally, Velodyne's warrants fell $1.47, or approximately 20%, to close at $5.90 per warrant on February 22, 2021. Velodyne's stock price has continued to fall, currently trading around $14 per share. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.
Lordstown Motors Corporation (NASDAQ: RIDE) Shareholder Rights Investigation
Barr Law Group is investigating Lordstown Motors Corporation regarding possible breaches of fiduciary duties and other violations of law by the company’s officers and directors. On March 12, Hindenburg Research put out a report noting: "Lordstown is an electric vehicle SPAC with no revenue and no sellable product, which we believe has misled investors on both its demand and production capabilities." Hindenburg also noted, "Our conversations with former employees, business partners and an extensive document review show that the company's orders are largely fictitious and used as a prop to raise capital and confer legitimacy." On this news, Lordstown was down over 16%. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.
Abbott Laboratories (NYSE: ABT) Shareholder Rights Investigation
Barr Law Group is investigating Abbott Laboratories regarding possible breaches of fiduciary duties and other violations of law by the company’s officers and directors. To learn more about this investigation and your rights, visit: http://barrlaw.com/investor-contact. Representation is contingency based, no out of pocket costs.
Concerned shareholders are encouraged to contact Leo Kandinov to learn more:
leo@barrlaw.com
(619) 400-4966
www.barrlaw.com
Barr Law Group is a boutique law firm consisting of highly experienced and specialized litigators who represent investors in securities litigation and corporate governance matters. The firm would be happy to further discuss these matters, and any legal rights or remedies potentially available to you, at no charge.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:
Leo Kandinov, Partner
leo@barrlaw.com
619-400-4966
501 W Broadway Suite 800
San Diego, CA 92101
www.barrlaw.com