SAN DIEGO, March 18, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of ACADIA Pharmaceuticals Inc. (ACAD) over alleged Federal Securities Laws Violations by ACADIA Pharmaceuticals.
Investors, who purchased shares ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779 - 1554.
The plaintiff alleges that defendants made certain allegedly false and misleading statements and/or allegedly failed to disclose adverse facts regarding the timing of ACADIA Pharmaceuticals' submission of its New Drug Application ("NDA") to the FDA for NUPLAZID and that as a result of defendants' statements or omissions between February 26, 2015 and March 11, 2015, ACADIA Pharmaceuticals Inc. securities traded at allegedly artificially inflated prices, with its stock trading at prices above $45 per share.
On February 26, 2015, ACADIA Pharmaceuticals Inc announced its 2014 fourth quarter and year-end financial results (for the year ended December 31, 2014) and told investors it "remain[ed] on track to submit [its] New Drug Application to the FDA in the first quarter of 2015."
Then on Wednesday, March 11, 2015, ACADIA Pharmaceuticals Inc announced that Uli Hacksell would retire immediately as both its CEO and a member of its board of directors. In another statement reported on March 11, 2015, ACADIA Pharmaceuticals Inc announced that it would postpone the timing of its planned New Drug Application submission for Nuplazid to the second half of the year. ACADIA Pharmaceuticals Inc had originally planned to submit the application in the first quarter.
Those who purchased shares of ACADIA Pharmaceuticals Inc. (Nasdaq:ACAD) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.