NEW ORLEANS, Aug. 03, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 17, 2018 to file lead plaintiff applications in a securities class action lawsuit against ACADIA Pharmaceuticals Inc. (NasdaqGS:ACAD), if they purchased the Company’s securities between April 29, 2016 and July 9, 2018, inclusive (the “Class Period”).  This action is pending in the United States District Court for the Southern District of California.

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About the Lawsuit

ACADIA and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On July 9, 2018, a report published by the Southern Investigative Reporting Foundation highlighted problems associated with the Company’s sole drug, Nuplazid, a treatment for Parkinson’s disease, as well as the Company’s growth strategies that “have attracted intense regulatory scrutiny for other drug companies” including “dispensing wads of cash to doctors to incentivize prescription writing and downplaying mounting reports of patient deaths.”

On this news, the price of ACADIA’s shares plummeted $1.21/share, or 6.8%, to close at $16.63/share on July 9, 2018.

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