Acadia settles civil suit; litigation fees total $9.1 million

By Elaine Rigoli

Tampa, Fla., Sept. 8 - Acadia Pharmaceuticals, Inc. said it reached a settlement in a civil action filed by a former employee.

The company recorded an accrued loss from litigation totaling $9.1 million as of June 30, which included the amount awarded for damages and plaintiff's fees and costs, plus accrued interest on those awards.

To settle the litigation inclusive of all fees and costs, pursuant to the agreement, the San Diego biopharmaceutical company said it will make aggregate payments of $5.15 million, of which approximately $2.4 million will be covered by Acadia's employment practices liability insurance.

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