An investor in NASDAQ:ACOR shares filed a lawsuit against Acorda Therapeutics Inc over alleged Securities Laws violations.
Investors in shares of Acorda Therapeutics Inc (NASDAQ:ACOR) have certain options and for certain investors are short and strict deadlines running. Deadline: January 17, 2018. NASDAQ:ACOR investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The plaintiff claims that between April 18, 2016, and November 14, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that tozadenant entailed significant undisclosed safety risks, that accordingly, the Company had overstated tozadenant’s approval prospects and commercial viability, that for the foregoing reasons, the Company had likewise overstated the benefits of the Biotie Acquisition, and that as a result of the foregoing, Acorda’s shares traded at artificially inflated prices between April 18, 2016, and November 14, 2017, and class members suffered significant losses and damages.
On November 15, 2017, Acorda Therapeutics Inc disclosed that it stopped enrolling new patients in its Phase 3 trial of tozadenant due to five deaths that took place in the group of patients taking tozadenant. Tozadenant is an oral adenosine A2a receptor antagonist currently in Phase 3 development as an adjunctive treatment to levodopa in Parkinson’s disease patients to reduce OFF time. Acorda Therapeutics Inc informed investors that new enrollment suspension was pending further discussion with the independent Data Safety Monitoring Board and the FDA. Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) declined to as low as $16.55 per share on November 16, 2017.
Those who purchased shares of Acorda Therapeutics Inc (NASDAQ:ACOR) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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