The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is ongoing concerning potential breaches of fiduciary duties by certain directors and officers of ACADIA Pharmaceuticals Inc.
Investors who are current long term investors in ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm for current long term investors in NASDAQ:ACAD stocks follows a lawsuit filed recently against ACADIA Pharmaceuticals Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:ACAD stocks, concerns whether certain ACADIA Pharmaceuticals officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of California the plaintiff alleges 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 $29.45 per share on March 26, 2015.
On April 24, 2015, NASDAQ:ACAD shares closed at $38.36 per share.
Those who purchased shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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