On August 24, 2026, the Hon. William Q. Hayes, United States District Judge for the Southern District of California, entered an order granting preliminary approval of a settlement in the consolidated shareholder derivative action captioned Kanner v. Baker, et al., Case No. 23-cv-2293.  Plaintiffs had filed the initial complaint on December 15, 2023, alleging breaches of fiduciary duty, unjust enrichment, abuse of control, waste of corporate assets, insider trading, andviolations of the Securities Exchange Act of 1934 by certain of Acadia Pharmaceutical’s current and former directors and officers. Kahn Swick & Foti, LLC represents stockholder Thomas Christiansen, who made a litigation demand on the Board of Directors of Acadia Pharmaceutical related to the allegations in the complaint and who has agreed to settle his claims in the global settlement. Pursuant to the settlement, defendants will institute various reforms at Acadia, including increasing oversight of its disclosures relating to drug trials, enhancing the Board’s Scientific, Audit, and Disclosure Committees, introducing a new Chief Science Chair position and introducing insider-trading reforms by modifying Acadia’s current Insider Trading Policy and formally adopting Rule 10b5-1 Trading Plan Guidelines.