NEW YORK, May 09, 2015 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Acadia Pharmaceuticals, Inc. (“Acadia” or the “Company”) (Nasdaq:ACAD) of the May 12, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Acadia and certain executives of the Company.
A complaint has been filed in the United States District Court for the Southern District of California on behalf of all persons who purchased Acadia common stock during the period of February 26, 2015 to March 11, 2015 (the “Class Period”).
The complaint alleges that the Company and certain executives violated the federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that on March 11, 2015, Acadia disclosed that it will delay submission of its New Drug Application for its experimental Parkinson’s disease drug, nuplazid, from this quarter to sometime in the second half of the year. As well, Acadia announced that its long-time Chief Executive Officer will be stepping down.
Following this news, Acadia shares declined by $9.94 per share, or more than 22%, to close on March 12, 2015 at $34.82 per share.
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If you invested in Acadia stock or options between February 26 and March 11, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/ACAD. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Acadia’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Source:Faruqi & Faruqi LLP