CLASS ACTION UPDATE for VNDA, CTL, NIO and CRBP: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, April 08, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.

Vanda Pharmaceuticals Inc. (VNDA)
Class Period: November 4, 2015 - February 11, 2019
Lead Plaintiff Deadline: April 26, 2019
Join the action: https://www.zlk.com/pslra-1/vanda-pharmaceuticals-inc-loss-form?wire=3

About the lawsuit: During the class period, Vanda Pharmaceuticals Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz; (2) Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs; (3) as a result of the scheme, Vanda faced legal action from the government; (4) Vanda’s promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration; and (5) 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.

To learn more about the Vanda Pharmaceuticals Inc. class action contact [email protected].

CenturyLink, Inc. (CTL)
Class Period: May 10, 2018 - March 4, 2019
Lead Plaintiff Deadline: May 6, 2019
Join the action: https://www.zlk.com/pslra-1/centurylink-inc-loss-form?wire=3

About the lawsuit: CenturyLink, Inc. allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (1) CenturyLink had undisclosed material weaknesses in its internal controls over revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with its Level 3 Communications, Inc. acquisition; (2) consequently, CenturyLink would delay the filing of its Form 10-K for the fiscal year ended December 31, 2018 despite initially reporting those financial results in a press release dated February 13, 2019; and (3) as a result, CenturyLink’s public statements were materially false and misleading at all relevant times.

To learn more about the CenturyLink, Inc. class action contact [email protected].

NIO Inc. (NIO)
Class Period: Purchasers of American Depositary Shares between September 12, 2018 and March 5, 2019
Lead Plaintiff Deadline: May 13, 2019
Join the action: https://www.zlk.com/pslra-1/nio-inc-loss-form?wire=3

About the lawsuit: NIO Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on JAC Auto to manufacture its vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, Defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times.

To learn more about the NIO Inc. class action contact [email protected].

Corbus Pharmaceuticals Holdings, Inc. (CRBP)
Class Period: November 14, 2016 - February 28, 2019
Lead Plaintiff Deadline: May 13, 2019
Join the action: https://www.zlk.com/pslra-1/corbus-pharmaceutical-holdings-inc-loss-form?wire=3

About the lawsuit: Corbus Pharmaceuticals Holdings, Inc. allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (1) Corbus improperly changed the primary efficacy endpoint for the clinical study of its drug candidate, Lenabasum, after the results were unblinded to Corbus; (2) Corbus reported a one-sided p value, not the traditional two-sided p value normally reported in clinical trials, in an effort to conceal the fact that the study results did not have statistical significance; and (3) as a result, Corbus’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.