ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) Investor Securities Class Action Lawsuit 03/13/2015

You must submit the settlement "Proof" form attached below, in order to participate in this settlement. There is a strict deadline of September 16, 2017 by which all claims must be submitted. The instructions for submitting are included in the "Proof" and the "Notice" files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, FOLLOW THE DIRECTIONS IN THE "PROOF".

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
ACADIA Pharmaceuticals
Case Name: 
ACADIA Pharmaceuticals Shareholder Class Action Lawsuit 03/13/2015
Case Status: 
Lawsuit Filed
Case Status: 
Settlement Proposed
Affected Securities
NASDAQ: ACAD
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/13/2015
Class Period Begin: 
11/10/2014
Class Period End: 
03/11/2015
Court of Filing: 
U.S. District Court for the Southern District of California
Deadline To File for Lead: 
05/12/2015
Date Settled: 
06/09/2017
Settlement Amount: 
$2,925,000
Deadline to Participate in Settlement: 
09/16/2017
Summary: 

The settlement includes all persons who or which purchased or otherwise acquired publicly traded ACADIA Pharmaceuticals Inc common stock and/or call options in the United States or on the NASDAQ Global Select Market between November 10, 2014 through and including March 11, 2015.

June 9, 2017 - The court preliminarily approved the settlement.

March 13, 2017 - Parties filed a stipulation of settlement.

September 19, 2016 - The court denied defendants' motion to dismiss.

November 16, 2015 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) common shares or call options between November 10, 2014 and March 11, 2015. The lead plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 10, 2014 and March 11, 2015.

September 8, 2015 - Lead plaintiffs and lead counsel were appointed and all cases were consolidated.

March 13, 2015 - An investor in shares of ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) filed a lawsuit in the U.S. District Court for the Southern District of California against ACADIA Pharmaceuticals Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 26, 2015 and March 11, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) common shares between February 26, 2015 and March 11, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2015 and March 11, 2015 defendants made allegedly false and misleading statements and/or allegedly failed to disclose adverse facts regarding the timing of ACADIA Pharmaceuticals’ submission of its New Drug Application (“NDA”) to the FDA for NUPLAZID and that as a result of defendants’ statements or omissions between February 26, 2015 and March 11, 2015, ACADIA Pharmaceuticals Inc. securities traded at allegedly artificially inflated prices, with its stock trading at prices above $45 per share.

ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) reported that its Total Revenue declined from $4.91 million in 2012 to $0.12 million in 2014 and that its respective Net Loss increased from $20.85 million to $92.47 million. Shares of ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) grew from $1.91 in November 2012 to as high as $46.48 per share on March 10, 2015.

On Wednesday, March 11, 2015, ACADIA Pharmaceuticals Inc announced that Uli Hacksell would retire immediately as both its CEO and a member of its board of directors. In another statement reported Wednesday, ACADIA Pharmaceuticals Inc announced that it would postpone the timing of its planned New Drug Application submission for Nuplazid to the second half of the year. ACADIA Pharmaceuticals Inc had originally planned to submit the application in the first quarter.

Shares of ACADIA Pharmaceuticals Inc (NASDAQ: ACAD) declined to $33.33 per share on March 12, 2015.