San Diego, CA -- (SBWIRE) -- 06/13/2012 -- An investigation on behalf of investors in Acorda Therapeutics Inc (NASDAQ:ACOR) shares over potential securities laws violations by certain officers and directors at Acorda Therapeutics Inc in connection with certain financial statements was announced.
Investors who purchased shares of Acorda Therapeutics Inc (NASDAQ:ACOR), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Acorda Therapeutics Inc (NASDAQ:ACOR) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about Acorda Therapeutics’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
Acorda Therapeutics Inc reported that its annual Revenue rose from $47.73million in 2008 to $267.24million in 2011 and that its Net Loss of $74.34million in ’08 turned in 2011 to a Net Income of $30.61million.
Shares of Acorda Therapeutics Inc (NASDAQ:ACOR) rose from slightly under $16 in December 2008 to as high as $38.75 per share on April 30, 2010.
The U.S. Food and Drug Administration (“FDA”) disclosed that it sent on May 10, 2012 a warning letter to Acorda Therapeutics Inc. The letter outlined Acorda Therapeuctis’ history of failing to comply with adverse drug experience (ADE) protocols, based on FDA inspections conducted in 2006, 2009, and between August 15, 2011 and September 9, 2011.
NASDAQ:ACOR shares fell from over $27 per share in March 2012 to $21.66 on May 18, 2012.
Those who purchased shares of Acorda Therapeutics Inc (NASDAQ:ACOR), have certain options and should contact the Shareholders Foundation.
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