Shareholder rights firm Robbins
Umeda LLP is investigating possible breaches of fiduciary duty and
other violations of the law by certain officers and directors at Acorda
Therapeutics, Inc. (NASDAQ: ACOR). Concerned shareholders who would like
more information about their rights and potential remedies can contact
attorney Gregory E. Del Gaizo at (800) 350-6003, info@robbinsumeda.com,
or via the shareholder
information form on the firm's website.
Robbins Umeda LLP is investigating whether officers and directors of
Acorda Therapeutics breached their fiduciary duties to shareholders by
permitting insufficient controls and improper procedures concerning
adverse drug experience ("ADE") reporting and related compliance matters
with the Food and Drug Administration ("FDA"). On May 10, 2012, the FDA
sent the company a warning letter outlining Acorda's six year history of
failing to comply with ADE protocols, based on FDA inspections conducted
in 2006, 2009, and the fall of 2011. The letter specifically described
repeat violations committed by the company, including failure to timely
submit serious and unexpected ADEs to the FDA, including ADEs pertaining
to patients taking Ampyra, the company's multiple sclerosis treatment,
and failure to develop written procedures and maintain required records
pertaining to ADEs. In addition, the FDA's warning letter described
false information reported by Acorda to the FDA with respect to
corrective actions that were not completed until 2007 despite the
company's January 19, 2006 report to the FDA stating that all
corrections had been made.
Robbins Umeda LLP highlights concerned Acorda shareholders have several
potential options available to them. Remedies commonly sought in the
firm's actions include corporate
governance reforms designed to prevent future misconduct, removal of
officers or directors whose misconduct injured the corporation, and
monetary payments in the form of damages and disgorgement of ill-gotten
gains.
Robbins Umeda LLP is a nationally recognized leader in securities
litigation and shareholder rights law. The firm represents individual
and institutional investors in shareholder derivative and securities
class action lawsuits, and has helped its clients realize more than $1
billion of value for themselves and the companies in which they have
invested. For more information, please go to http://www.robbinsumeda.com.
Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/acorda-therapeutics-inc/
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