| COMPANY |
ACADIA Pharmaceuticals Inc. |
| COURT |
United States District Court for the Southern District of California |
| CASE NUMBER |
18-cv-01647 |
| JUDGE |
Honorable. Anthony Joseph Battaglia |
| CLASS PERIOD |
April 29, 2016 through July 9, 2018 |
| SECURITY TYPE |
All Securities |
Case Background:
On July 19, 2018, the initial complaint in this securities class action was filed against ACADIA Pharmaceuticals Inc. (“Acadia” or the “Company”), and certain of Acadia’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons and entities who purchased or acquired Acadia securities between April 29, 2016 and July 9, 2018, (the “Class Period”) both dates inclusive.
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) adverse events and safety concerns related to NUPLAZID threatened the drug’s initial and continuing FDA approval; (2) Acadia engaged in business practices likely to attract regulatory scrutiny; and (3) as a result of the foregoing, Defendants’ statements about Acadia’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
Current Status of Case:
On April 16, 2021, Lead Plaintiff filed a Third Amended Complaint. Defendants filed a Motion to Dismiss Lead Plaintiff’s Amended Complaint on May 31, 2021. On January 3, 2022, the Court granted Defendants’ Motion to Dismiss. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.