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Faruqi & Faruqi, LLP Launches Investigation Against Acadia Pharmaceuticals Inc For Potential Breaches Of Fiduciary Duties By Board Of Directors


Friday, 10 May 2013 06:45pm EDT 

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, is investigating the Board of Directors of ACADIA Pharmaceuticals Inc. for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval for an amendment to the Company's 2010 Equity Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on April 25, 2013, the Board of Directors recommends that ACADIA's shareholders vote to approve an amendment to the Company's 2010 Equity Incentive Plan to increase the aggregate number of shares of common stock authorized for issuance under the plan by 7,500,000 shares. The issuance of the additional shares could have a substantial dilutive effect on the shares of ACADIA common stock. 

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20.83
0.1 +0.48%
24 Jul 2014