Faruqi & Faruqi, LLP Announces Proposed Settlement of Acadia Securities Litigation

NEW YORK, July 10, 2017 /PRNewswire/ -- The following statement is being issued by Faruqi & Faruqi, LLP regarding the Acadia Securities Litigation:

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of California, that a hearing will be held on October 3, 2017 at 2:00 p.m., before the Honorable Barry Ted Moskowitz, at the United States Courthouse for the Southern District of California, 333 West Broadway, Courtroom 15B, San Diego, CA 92101, for the purpose of determining: (1) whether the proposed settlement of the claims in the Action for the principal amount of $2,925,000 for the Class should be approved by the Court as fair, just, reasonable, and adequate; (2) whether a Final Judgment and Order of Dismissal with prejudice should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees in the amount of 25% of the Settlement Fund, an award to the Class Representatives not to exceed $5,000, and Litigation Expenses not to exceed $125,000 should be approved.

IF YOU PURCHASED OR ACQUIRED ACADIA COMMON STOCK AND/OR CALL OPTIONS DURING THE PERIOD FROM NOVEMBER 10, 2014 THROUGH AND INCLUDING MARCH 11, 2015, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.  You may obtain copies of a detailed Notice of Pendency and Settlement of Class Action ("Settlement Notice") and a copy of the Proof of Claim and Release form by writing to Acadia Pharmaceuticals Inc. Securities Litigation, c/o KCC Class Action Services, P.O. Box 404009, Louisville, KY 40233-4009, visiting the website www.AcadiaSecuritiesSettlement.com, e-mailing the Claims Administrator at [email protected], or calling the Claims Administrator toll free at 1-844-515-6321. Inquiries other than requests for the above-referenced documents may also be made to Plaintiffs' Lead Counsel:

Richard W. Gonnello
FARUQI & FARUQI, LLP
685 Third Avenue
26th Floor
New York, NY 10017

If you are a Class Member, in order to share in the distribution of the Settlement Fund, you must submit a Proof of Claim and Release form postmarked no later than September 16, 2017, establishing that you are entitled to recovery.  NOTE THAT NO CLAIMS LESS THAN $10.00 WILL BE PAID.

If you purchased or otherwise acquired ACADIA common stock and/or call options and you desire to be excluded from the Class, you must submit a request for exclusion postmarked no later than August 29, 2017, in the manner and form explained in the detailed Settlement Notice referred to above.  All Class Members who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation and Agreement of Settlement.

Any objection to the Settlement must be mailed to the Clerk of the United States District Court for the Southern District of California at the address below and postmarked no later than September 13, 2017:

CLERK OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
333 West Broadway
San Diego, CA 92101

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE.  If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.

SOURCE Faruqi & Faruqi, LLP