LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ACADIA Pharmaceuticals Inc. (“ACADIA” or ''the Company'') (NASDAQ: ACAD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ACADIA shares fell more than 23% on April 9, 2018, after CNN reported that the Company’s Nuplazid treatment may have played a role in the death of patients receiving the treatment. Additionally, in July The Southern Investigative Reporting Foundation released a report critical of ACADIA, alleging that the Company’s approach to government approval is “best described as ‘loophole-centric.” Based on this report, the Company’s shares fell 6.7% on July 9, 2018.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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