A lawsuit was filed on behalf of investors in ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/06/2018 -- An investor, who purchased shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), filed a lawsuit against ACADIA Pharmaceuticals Inc over alleged violations of Federal Securities Laws.
Investors, who purchased shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD), have certain options and 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 April 29, 2016 and July 9, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 29, 2016 and July 9, 2018, the Defendants failed to disclose that adverse events and safety concerns related to NUPLAZID threatened the drug's initial and continuing FDA approval, that ACADIA engaged in business practices likely to attract regulatory scrutiny, and that, as a result of the foregoing, Defendants' statements about ACADIA's business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On April 9, 2018, it was reported that "[p]hysicians, medical researchers and other experts told CNN that they worried that [Nuplazid] had been approved too quickly, based on too little evidence that it was safe or effective."
Then, on April 25, 2018, it was reported that the U.S. Food and Drug Administration ("FDA") was re-examining the safety of Nuplazid, which was approved "despite concerns that not enough was known about the drug's risks."
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
92108 San Diego
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