Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
Menu
Investigation
04/19/2021
Initial Lawsuit
04/19/2021
Lawsuit Progression
09/29/2021
This is a federal securities class action on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Acadia securities between June 15, 2020 and April 4, 2021, both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) the materials submitted in support of the pimavanserin sNDA contained statistical and design deficiencies;
(ii) accordingly, the pimavanserin sNDA lacked the evidentiary support that the Company had led investors to believe it possessed;
(iii) the FDA was unlikely to approve the pimavanserin sNDA in its present form;
(iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.