OAKLAND, Calif.--(BUSINESS WIRE)--Girard Gibbs LLP is investigating claims on behalf of investors of Acorda Therapeutics, Inc. (NASDAQ:ACOR) regarding possible violations of federal securities laws following the FDA’s refusal to review the company’s new drug application for Inbrija.
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On August 29, 2017, Acorda announced that it had received a Refusal to File letter from the FDA regarding the company’s New Drug Application for Inbrija. Specifically, the FDA determined that the New Drug Application was not complete enough to permit a substantive review. The FDA cited two specific issues: 1) the date the manufacturing site would be ready for inspection; and 2) a question regarding the submission of the drug master production record. The FDA has also requested further information at resubmission, which did not form the basis for the Refusal to File.
Following this news, Acorda share price plummeted by more than 24% to close at $19.45 on August 29, 2017.
If you purchased or acquired shares of Acorda Therapeutics and would like to speak privately with a securities attorney to learn more about the investigation and your legal rights, visit our website or contact the securities team directly at (800) 254-9493.
Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and has earned Tier-1 rankings and been named in the U.S. Lawyers – Best Law Firms list for five consecutive years.
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