Robbins Umeda LLP Announces an Investigation of Acorda Therapeutics, Inc.
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 complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.
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.