Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of ACADIA Pharmaceuticals Inc. Investors
BENSALEM, Pa., Aug. 31, 2018 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased ACADIA Pharmaceuticals Inc. (“ACADIA” or the “Company”) (NASDAQ: ACAD ) securities between April 29, 2016 and July 9, 2018, inclusive (the “Class Period”). ACADIA investors have until September 17, 2018 to file a lead plaintiff motion.
Investors that suffered losses on their ACADIA investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On April 9, 2018, CNN 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. And given these mounting reports of deaths, they say that more needs to be done to assess Nuplazid’s true risks.” On this news, ACADIA’s share price fell $5.03 per share, or 23.4%, to close at $16.50 per share on April 9, 2018, thereby injuring investors.
The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that adverse events and safety concerns related to NUPLAZID threatened the drug’s initial and continuing FDA approval; (2) that ACADIA engaged in business practices likely to attract regulatory scrutiny; and (3) 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.
If you purchased shares of ACADIA during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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