NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 12, 2015 to file lead plaintiff applications in a securities class action lawsuit against ACADIA Pharmaceuticals Inc. (Nasdaq: ACAD) if they purchased the Company’s securities between February 26, 2015 and March 11, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of California.
What You May Do
If you purchased shares of ACADIA and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 12, 2015.
About the Lawsuit
ACADIA and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 26, 2015, ACADIA announced its 2014 fourth quarter and year-end financial results and told investors that it “remain[ed] on track to submit [its] New Drug Application to the FDA in the first quarter of 2015.”
Then, on March 11, 2015, ACADIA issued a press release announcing a change in the timing of its planned NDA submission to the FDA for its drug NUPLAZID from the first quarter of 2015 to the second half of 2015. In a separate press release the same day, ACADIA announced the retirement of the Company’s Chief Executive Officer and director, Uli Hacksell.
On this news, the price of ACADIA’s shares plummeted by 22%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.