SHAREHOLDER ALERT - Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against ACADIA Pharmaceuticals Inc. (ACAD) and Lead Plaintiff Deadline - September 17, 2018
NEW YORK, July 24, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against ACADIA Pharmaceuticals Inc. ("Acadia" or the "Company") (NASDAQ: ACAD) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Acadia securities between April 29, 2016 and July 9, 2018, (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/acad.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or 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, 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, CNN published an article that questioned whether Acadia's Nuplazid treatment may have caused the deaths of sick and elderly patients. Following this news Acadia stock dropped $5.03 per share or over 23% to close at $16.50 on April 9, 2018. Then, on July 9, 2018, The Southern Investigative Reporting Foundation reported that that Acadia's "pursuit of regulatory approval is best described as 'loophole-centric.'" Following this news Acadia stock dropped $1.21 per share or over 6.7% to close at $16.63 on July 9, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/acad or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Acadia you have until September 17, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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