Grabar Law Office Investigates Potential Shareholder Derivative Action On Behalf of Shareholders of ACADIA Pharmaceuticals Inc. ("ACADIA") (Nasdaq: ACAD)
A Court Order was recently issued denying a motion to dismiss a securities class action against ACADIA.
The Complaint alleged that between April 29, 2016 and July 9, 2018, (the "Class Period") the defendants failed to disclose that: (1) adverse events and safety concerns related to NUPLAZID threatened the drug’s initial and continuing FDA approval; (2) ACADIA engaged in business practices likely to attract regulatory scrutiny; and (3) as a result of the foregoing, the defendants’ statements about ACADIA’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Current ACADIA shareholders who purchased shares of the Company’s stock prior to April 29, 2016 have standing to seek corporate governance reforms, and possibly the return of funds back to company coffers and a court approved incentive award if appropriate.
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