PR Newswire | Sep 5, 2020 08:48AM EDT

Pharmaceuticals Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses?

09/05 07:47 CDT

(ACAD) Alert: Johnson Fistel Announces Shareholder Class Action Against ACADIA Pharmaceuticals Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses? SAN DIEGO, Sept. 5, 2020

SAN DIEGO, Sept. 5, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of ACADIA Pharmaceuticals Inc. (NasdaqGS: ACAD) ("ACADIA" or the "Company") against certain of its officers and directors. Specifically, a class-action lawsuit pending in the United States District Court for the Southern District of California against ACADIA and certain of its current and former officers recently survived, in part, certain defendants' attempts to have the case dismissed.

According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (1) adverse events and safety concerns related to NUPLAZID threatened the drug's initial and continuing FDA approval; (2) ACADIA engaged in business practices likely to attract regulatory scrutiny; and (3) as a result, defendants' statements about ACADIA's business, operations, and prospects, were materially false and misleading and lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you are a current, long-term shareholder ofACADIAholding shares beforeMay 2016, you may have standing to hold ACADIA harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If youare interested in learning more about the investigation, please contactlead analystJim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

Additionally, if you have owned shares ofACADIAsince before May 2016, you can

[Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471 jimb@johnsonfistel.com

[Click here to join this action]

View original content: http://www.prnewswire.com/news-releases/acad-alert-johnson-fistel-announces-shareholder-class-action-against-acadia-pharmaceuticals-survives-motion-to-dismiss-should-management-be-held-accountable-for-investors-losses-301124793.html

SOURCE Johnson Fistel, LLP