RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) (“ACADIA” or the “Company”) on behalf of purchasers of the Company’s securities between April 29, 2016 and July 9, 2018, inclusive (the “Class Period”).
ACADIA investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 for additional information about this action and/or to discuss their legal rights and options. Investors may also register their information with the firm at http://kaskelalaw.com/case/acadia/.
ACADIA is a biopharmaceutical company focused on the development and commercialization of innovative medicines to address unmet medical needs in central nervous system disorders. One of ACADIA’s products is NUPLAZID (pimavanserin), which was approved by the U.S. Food and Drug Administration (“FDA”) in April 2016 for the treatment of hallucinations and delusions associated with Parkinson’s disease.
The shareholder class action complaint alleges that ACADIA and certain other defendants made a series of false and misleading statements during the Class Period and failed to disclose material adverse facts to investors about the Company’s business, operations and prospects. Among other things, the defendants failed to disclose: (i) that adverse events and safety concerns related to NUPLAZID threatened the drug’s initial and continuing FDA approval; and (ii) that ACADIA engaged in business practices likely to attract regulatory scrutiny. The complaint further alleges that, as a result of the foregoing, investors purchased ACADIA’s securities at artificially inflated prices during the Class Period, and suffered significant investment losses as a result of the defendants’ conduct.
IMPORTANT DEADLINE: Investors who purchased ACADIA’s securities during the Class Period may, no later than September 17, 2018, seek to be appointed as a lead plaintiff of the investor class. ACADIA investors are encouraged to contact Kaskela Law LLC for additional information about this action and/or to discuss their legal rights and options, or to register their information with the firm at http://kaskelalaw.com/case/acadia/.
Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.