Philadelphia, Pennsylvania--(Newsfile Corp. - March 19, 2024) - Attention long-term investors of Acadia Pharmaceuticals Inc. (NASDAQ: ACAD): A federal securities fraud complaint that filed on behalf of shareholders of Acadia Pharmaceuticals was recently certified as a class action. That complaint alleges that Acadia, via certain officers and directors, made materially false and misleading statements regarding the Company's business. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the FDA was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Current Acadia long-term shareholders who have held Acadia stock since prior to June 15, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.
If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/acadia-shareholder-investigation/, or contact Joshua Grabar at jgrabar@grabarlaw.com, or Mia Heller at mheller@grabarlaw.com, or call 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/202263
