Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF ACADIA PHARMACEUTICALS INC. (NASDAQ: ACAD)

Acadia Pharmaceuticals Inc. is a biopharmaceutical company that focuses on the development and commercialization of small molecule drugs that address unmet medical needs in central nervous system disorders. The Company is developing pimavanserin as a treatment for dementia-related psychosis and as an adjunctive treatment for schizophrenia, as well as an adjunctive treatment for major depressive disorder. In June 2020, Acadia submitted a supplemental New Drug Application ("sNDA") with the FDA to expand pimavanserin's label to include treatment for dementia-related psychosis.

A federal securities fraud complaint was recently certified as a class action. That complaint alleges that Acadia, via certain officers and directors, made materially false and misleading statements regarding the Company's business. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies; (ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed; (iii) the FDA was unlikely to approve the pimavanserin sNDA in its present form; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

On September 29, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 10. Defendants filed a Motion to Dismiss the amended Complaint on February 15, 2022. On September 27, 2022, the Court issued an Order denying Defendants' Motion to Dismiss. On March 11, 2024 the Court issued an Order certifying the action as a class action.

Current Acadia shareholders who have held Acadia stock since prior to June 15, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact us at [email protected], or call 267-507-6085.

Join This Action
Name*
First Last
Email Address*
Address*
Street Address City State / Province / Region ZIP / Postal Code
Phone*
Stock Name or Ticker
Number of Shares Purchased
Date(s) Shares Purchased
Purchase Price Per Share
Number of Shares Sold
Date(s) Shares Sold
Sale Price Per Share
Comments
Alternatively, you may upload your transactions using the upload button below or email them to [email protected]. *
File
Drop files here or

Max. file size: 100 MB.
Consent*
By signing and clicking the Submit button below, I hereby execute the Retention Agreement and, upon execution of the Retention Agreement by Grabar Law Office, retain Grabar Law Office to make a demand and bring any ensuing lawsuit on my behalf pursuant to the terms set forth in the Retention Agreement, which is incorporated herein by reference.*
Please sign below using your mouse or touch-pad.*
Signed pursuant to California Civil Code Section 1633.1, et seq. and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.
Date of signing: *
Date of Signing:*
MM slash DD slash YYYY
Email
This field is for validation purposes and should be left unchanged.

Attorney Advertising Disclaimer

Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS ON BEHALF OF SHAREHOLDERS OF ACADIA PHARMACEUTICALS INC. (NASDAQ: ACAD)

Join This Action