Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired ACADIA Pharmaceuticals Inc. (“Acadia”) (NASDAQ: ACAD) securities between April 29, 2016 and July 9, 2018, inclusive (the “Class Period”).
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 at all relevant times.
Current Status of Case:
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, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.