DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Southern District of California against ACADIA Pharmaceuticals Inc. (“ACADIA”) (NasdaqGS: ACAD) and several officers and directors for acts taken during the period of February 26, 2015 to March 11, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of ACADIA. If you are an affected ACADIA shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants made false and misleading statements and/or failed to disclose adverse facts regarding the timing of its submission of the New Drug Application (“NDA”) to the FDA for NUPLAZID. According to the complaint, these misstatements caused ACADIA stock to trade at artificially inflated prices. ACADIA announced its 2014 fourth quarter and year-end financial results on February 26, 2015 and told investors that it remained on track to submit the NDA in the first quarter of 2015. On March 11, 2015, ACADIA announced that the NDA submission for NUPLAZID would be changed to the second quarter of 2015. ACADIA stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
