The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) who purchased shares between April 29, 2016 and July 9, 2018. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.
In particular, the ACAD lawsuit alleges 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, defendants’ statements about ACADIA’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shareholders have until September 17, 2018 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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