The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Adamas Pharmaceuticals, Inc. (NASDAQGM: ADMS) who purchased shares between August 8, 2017 and September 30, 2019. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
In particular, the Adamas lawsuit alleges that (1) health insurers were excluding Adamas’s primary product, GOCOVRI, from their prescription formularies or requiring patients to use “step therapy” – i.e., making patients try immediate-release amantadine prior to covering GOCOVRI; (2) the rapid increase in physicians prescribing GOCOVRI during the Class Period was not due to its efficacy; and (3) as a result of the foregoing, the Company’s financial statements about Adamas’s business, operations, and prospects were materially false and misleading at all relevant times.
Shareholders have until February 10, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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