Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into ACADIA Pharmaceuticals Inc. (NasdaqGS: ACAD).
In April 2021, the Company disclosed that the U.S. Food and Drug Administration (“FDA”) had rejected its supplemental new drug application (“sNDA”) for its drug candidate, pimavanserin, despite the Company’s prior assertions dismissing any potential review issues and reiterating the drug’s efficacy.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws. The court presiding over the case denied the Company’s motion to dismiss, and recently denied the Company’s request to reconsider the ruling, allowing the case to move forward.
KSF’s investigation is focusing on whether ACADIA’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of ACADIA shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-acad/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
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Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner