NASDAQ GS
ACAD

ACADIA Pharmaceuticals Inc.

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against ACADIA Pharmaceuticals Inc. (NASDAQ GS: ACAD)

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities that purchased the common stock of ACADIA Pharmaceuticals Inc. (“ACADIA” or the “Company”) (NASDAQ GS: ACAD) between February 26, 2015 and March 11, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of ACADIA during the Class Period, or purchased shares prior to the Class Period and still hold ACADIA,  and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on March 11, 2015, the Company issued a press release announcing a change in the timing of its New Drug Application (“NDA”) submission to the U.S. Food and Drug Administration for NUPLAZID, a product developed for the treatment of Parkinson’s disease psychosis.  The Company had previously planned to submit the NDA in the first quarter of 2015, but announced in the release that it now planned to submit the NDA in the second half of 2015.

In a separate release the same day, ACADIA also announced that longtime Chief Executive Uli Hacksell had resigned from his post, effective immediately.  No reason was given for Hacksell’s departure.

On this news, shares in ACADIA dropped over 22%, closing at $34.82 per share on March 12, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than May 12, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.