The Shareholders Foundation announces that an investor in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by ACADIA Pharmaceuticals Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have certain options and for certain investors are short and strict deadlines running. Deadline: May 12, 2015. NASDAQ:ACAD investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) common shares between February 26, 2015 and March 11, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2015 and March 11, 2015 defendants made 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 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 Wednesday, 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. Shares of ACADIA Pharmaceuticals Inc (NASDAQ:ACAD) declined to $33.33 per share on March 12, 2015, respectively $29.45 per share on March 26, 2015.
Those who purchased shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
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