NEW ORLEANS, November 11, 2022 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq.a partner of the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has launched an investigation ACADIA Pharma Inc. ACAD.
On July 20, 2020, the Company announced that the FDA has accepted a New Drug Amendment (“sNDA”) submission for its drug candidate pimavanserin for the treatment of dementia-related psychosis (“DRP”). After that, the company repeatedly stated that the FDA had found no potential review issues and affirmed the drug’s effectiveness. Then next April 5, 2021the company announced that the FDA had rejected the sNDA citing a lack of statistical significance with respect to some dementia subgroups and insufficient numbers of patients with some less common dementia subtypes.
Thereafter, the company and certain of its executives were sued in a securities class-action lawsuit alleging failure to disclose material information during the class-action period in violation of federal securities laws. The court recently denied the company’s motion to dismiss, allowing the case to proceed.
KSF’s investigation focuses on whether ACADIA’s officers and/or directors have failed in their fiduciary duties to their shareholders or otherwise violated state or federal law.
If you have information that would assist KSF in its investigation, or were a long-time holder of information ACADIA Stocks and…
