SAN FRANCISCO, Apr. 07, 2015 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds investors with losses exceeding $100,000 of the May 12, 2015 lead plaintiff deadline in a class action lawsuit filed against ACADIA Pharmaceuticals, Inc. (Nasdaq:ACAD) (“Acadia” or “the Company”). The suit is pending in U.S. District Court for the Southern District of California, and investors, who purchased Acadia securities between February 26, 2015 and March 11, 2015 (the “Class Period”) you have until May 12, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Acadia securities during the Class Period, and have losses over $100,000, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000, emailing ACAD@hbsslaw.com or visiting http://hb-securities.com/investigations/ACAD. No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
Acadia is a biopharmaceutical company focused on the development and commercialization of medicines to treat neurological and related central nervous system disorders including NUPLAZID™ (pimavanserin), which is in Phase III development as a treatment for Parkinson’s disease. The complaint alleges that during the Class Period defendants made false and misleading statements related to the timing of Acadia’s submission of its New Drug Application to the FDA for NUPLAZID.
In spite of its February 26, 2015, announcement that it “remain[ed] on track to submit [its] New Drug Application to the FDA in the first quarter of 2015,” on March 11, 2015, Acadia issued a press release announcing a delay of its NDA submission to the FDA for NUPLAZID from the first quarter of 2015 to the second half of 2015. That same day, Acadia also announced the retirement of the Company’s longtime CEO. On this news, ACADIA common stock dropped $9.94 per share to close at $34.82 per share on March 12, 2015, a one-day decline of 22% on volume of 15 million shares.
If you were negatively impacted by your investment in Acadia securities February 26, 2015 and March 11, 2015, and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
Whistleblowers: Persons with non-public information regarding Bridgepoint should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. For more information, call Reed Kathrein at (510) 725-3000 or email ACAD@hbsslaw.com.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm headquartered in Seattle, Washington with offices in nine cities. 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. Read the firm’s Securities Newsletter at http://www.hb-securities.com/newsletter. The firm’s blog is located at www.meaningfuldisclosure.com.
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