Class Action Notice Issues for Acadia Pharmaceuticals Securities Litigation

Class Action Notice for Acadia Pharmaceuticals

On May 19, 2025, Scott+Scott Attorneys at Law LLP announced a significant notice regarding a class action lawsuit involving Acadia Pharmaceuticals, Inc. This notice pertains to individuals and entities who bought common shares of Acadia between September 9, 2019, and April 4, 2021. The lawsuit, pending in the United States District Court for the Southern District of California, raises concerns about the integrity of information provided by Acadia and its executives during that period.

Background of the Case

The lawsuit, identified as City of Birmingham Relief and Retirement System v. Acadia Pharmaceuticals, Inc., has been officially recognized as a class action by Judge William Q. Hayes. It involves a large group of plaintiffs who have raised claims against Acadia and its key executives, Stephen R. Davis and Srdjan (Serge) R. Stankovic. The plaintiffs allege that the defendants made material misrepresentations and omissions related to Acadia's supplemental New Drug Application (sNDA) intended to enhance the treatment indications for the company’s flagship drug, pimavanserin.

These allegations claim violations of Section 10(b) of the Securities Exchange Act of 1934 and the accompanying Rule 10b-5. While plaintiffs assert that these misrepresentations positively affected Acadia’s stock prices and subsequently led to financial losses among investors when the truth was revealed, the defendants firmly deny any wrongdoing and maintain that they did not violate any laws in their disclosures.

What Affected Investors Should Know

The notice specifically targets those who acquired stocks during the aforementioned period. If you are among those individuals or entities, your rights could be influenced by the outcomes of this ongoing litigation. It is crucial to take note of the implications this lawsuit might have on your investments in Acadia Pharmaceuticals.

The court has classified the involved individuals as a class, excluding certain categories, including the defendants and their families, which means that individuals falling within the defined class have the option to stay included or opt out.

How to Respond

If you believe you are a member of the affected class, it is important to obtain detailed communication regarding your rights. If you have not received a formal Notice of Pendency of Class Action, copies can be requested by reaching out to the Notice Administrator for the Acadia Securities Litigation. Alternatively, information can be accessed online at Acadia Securities Litigation.

Potential members also hold the right to request exclusion from the class, which, if done, will prevent them from being affected by any future court decisions related to this case. The request for exclusion must be made by July 18, 2025.

Conclusion

The ongoing class action lawsuit against Acadia Pharmaceuticals raises serious questions regarding corporate governance and the transparency of financial disclosures in the biotechnology sector. Investors who acquired shares during the designated timeframe must stay informed and consider their options carefully, as the outcomes may influence their financial futures significantly. This case exemplifies the vital role of legal accountability in maintaining trust within the financial and pharmaceutical communities. Stay updated as this case develops and ensure you are taking appropriate action to safeguard your interests.