NEW YORK, Aug. 29, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Acorda Therapeutics Inc. ("Acorda" or the "Company") (NASDAQ: ACOR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Acorda and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 29, 2017, pre-market, Acorda advised investors that the Company had received a Refusal To File ("RTF") letter from the U.S. Food and Drug Administration ("FDA") regarding Acorda's New Drug Application for Inbrija, the Company's treatment for Parkinson's disease treatment. Acorda advised investors that "[u]pon its preliminary review, FDA determined that the NDA, submitted on June 26, 2017, was not sufficiently complete to permit a substantive review. FDA specified two reasons for the RTF: first, the date when the manufacturing site would be ready for inspection, and, second, a question regarding the submission of the drug master production record. FDA also requested additional information at resubmission, which was not part of the basis for the RTF."
On this news, Acorda's share price has fallen as much as $7.75, or 30.16%, during intraday trading on August 29, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP