Adamas Pharmaceuticals, Inc.
Lead Plaintiff Deadline: 02/10/2020
SUMMARY OF CASE:
A securities class action has been filed against Adamas Pharmaceuticals, Inc. (ADMS) on behalf of all purchasers of the publicly-traded securities of Adamas between August 8, 2017 through September 30, 2019. This case has been filed in the USDC – N.D. Cal.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made materially false and misleading statements about: (1) managed care’s acceptance of GOCOVRI; (2) the breadth of insurer coverage for GOCOVRI prescriptions; and (3) the impact of the Company’s commercialization efforts. In addition, Defendants failed to disclose: (1) that health insurers were excluding GOCOVRI from their prescription formularies or requiring patients to use “step therapy” – i.e., making patients try immediate-release amantadine prior to covering GOCOVRI; (2) that the rapid increase in physicians prescribing GOCOVRI during the Class Period was not due to its efficacy; and (3) that, as a result of the foregoing, the Company’s financial statements and Defendants’ statements about Adamas’s business, operations, and prospects, were materially false and misleading at all relevant times.