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SAN FRANCISCO, Aug. 03, 2018 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) of the September 17, 2018 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired ACADIA securities between April 29, 2016 and July 9, 2018 (the “class period”) and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
During the class period, Defendants made a series of positive statements about ACADIA’s lead drug, which is intended to treat hallucinations and delusions associated with Parkinson’s disease psychosis.
On July 9, 2018, the Southern Investigative Reporting Foundation published a report concluding that ACADIA improperly promoted the illusion that the drug had received FDA approval like any other drug. The report (1) accused the Company of using regulatory loopholes to mask issues with how safe the drug is and how well it works, and (2) questioned its sales tactics.
In response, the price of ACADIA shares fell $1.21, or almost 7%, to close at $16.63 that day.
“We’re focused on investors’ losses and on the Foundation’s accusations which, if true, could mean ACADIA and senior management misled investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding ACADIA should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ACAD@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000