NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 17, 2018 to file lead plaintiff applications in a securities class action lawsuit against ACADIA Pharmaceuticals Inc. (NasdaqGS: ACAD), if they purchased the Company’s securities between April 29, 2016 and July 9, 2018, 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 securities of ACADIA Pharmaceuticals 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, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-acad/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 17, 2018.
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 July 9, 2018, a report published by the Southern Investigative Reporting Foundation highlighted problems associated with the Company’s sole drug, Nuplazid, a treatment for Parkinson’s disease, as well as the Company’s growth strategies that “have attracted intense regulatory scrutiny for other drug companies” including “dispensing wads of cash to doctors to incentivize prescription writing and downplaying mounting reports of patient deaths.”
On this news, the price of ACADIA’s shares plummeted $1.21/share, or 6.8%, to close at $16.63/share on July 9, 2018.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.