SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In ACADIA Pharmace...
April 20 2015 - 3:54PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, announces that a class action lawsuit has
been commenced in the United States District Court for the Southern
District of California on behalf of purchasers of ACADIA
Pharmaceuticals Inc. (“ACADIA” or the “Company”) (Nasdaq: ACAD)
securities during the period between February 26, 2015 and March
11, 2015, inclusive (the “Class Period”). Investors who wish to
become proactively involved in the litigation have until May 12,
2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in ACADIA securities
purchased on or after February 26, 2015 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above action.
Members of the Class will be represented by the lead plaintiff and
counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from
investment in Company securities during the Class Period. Brower
Piven also encourages anyone with information regarding the
Company’s conduct during the period in question to contact the
firm, including whistleblowers, former employees, shareholders and
others.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants’
failure to disclose during the Class Period that, contrary to the
insistence by Uli Hacksell, the Company’s CEO, that the new drug
application (“NDA”) for NUPLAZID was on track for submission to the
FDA in the first quarter of 2015, that plan to submit the NDA for
NUPLAZID in the first quarter of 2015 was imprudent and should have
been delayed to allow more time to complete the readiness of the
Company’s commercial manufacturing systems. According to the
complaint, following the announcement by the Company’s new CEO,
Steven Davis, on March 11, 2015 that, indeed, submission of the NDA
for NUPLAZID would not take place in the first quarter of 2015,
but, rather, was planned for the second half of 2015 because it was
more prudent for the Company to submit the NDA for NUPLAZID after
the Company took more time to complete the readiness of the
Company’s commercial manufacturing systems to allow those systems
to be ready for FDA review, the value of ACADIA shares declined
significantly.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If you
choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time to be
a member of the class.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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