SHAREHOLDER ALERT: Stephens & Stephens LLP Investigating the Officers and Directors of ACADIA Pharmaceuticals Inc. (ACAD)
July 30 2020 - 3:37PM
Business Wire
Stephens & Stephens LLP is investigating the officers and
directors of ACADIA Pharmaceuticals Inc. (NasdaqGS: ACAD) for
breach of fiduciary duties on the part of its directors and
management.
If you would like to discuss your legal rights call (805)
922-1951 or email conrad@stephensfirm.com.
ACADIA Pharmaceuticals (ACAD) Accused of Misleading
Shareholders
According to the class action lawsuit filed against ACADIA
Pharmaceuticals Inc., ACADIA and certain of its officers and
directors are charged with failing to disclose material information
regarding its lead drug candidate NUPLAZID and for violations of
federal laws that prevent pharmaceutical companies from providing
remuneration to include or provide referrals for drugs payable by a
federal program.
On July 9, 2018, the Southern Investigative Reporting Foundation
(now known as the Foundation for Financial Journalism) reported
that "evidence is mounting that something is horribly wrong with
Acadia's sole drug, Nuplazid" and that "Acadia has accomplished its
growth in ways that have attracted intense regulatory scrutiny for
other drug companies" including "dispensing wads of cash to doctors
to incentivize prescription writing and downplaying mounting
reports of patient deaths."
On June 1, 2020, Judge Anthony J. Battaglia of the United States
District Court for the Southern District of California issued an
order in In re Acadia Pharmaceuticals Inc. Securities Litigation
granting in part and denying in part the defendants’ motion to
dismiss.
About Stephens & Stephens LLP
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Conrad B. Stephens Stephens & Stephens LLP 505 S. McClelland
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