October 19, 2017 - The case was voluntarily dismissed.

February 17, 2017 (Shareholders Foundation) - An investor in shares of Alcobra Ltd (NASDAQ:ADHD) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Alcobra Ltd in connection with certain allegedly false and misleading statements made between August 13, 2015 and January 17, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Alcobra Ltd (NASDAQ:ADHD) common shares between August 13, 2015 and January 17, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 13, 2015 and January 17, 2016 the defendants caused the Company to issue materially misleading statements and/or omit material information concerning the Company's second Phase III study for MDX in adults with attention deficit hyperactivity disorder ( ADHD ), the MDX Evaluation in Adults – Study of Response and Efficacy, or the MEASURE study.

Alcobra Ltd is an Israel-based Biopharmaceutical company that focuses on the development and commercialization of a proprietary drug, MG01CI, to treat ADHD.

On January 17, 2017, Alcobra Ltd reported the top-line results from MEASURE, its second Phase 3 clinical trial for the investigational product Metadoxine Extended Release (MDX) for the treatment of ADHD in adult patients. Alcobra Ltd said that in this trial, MDX did not meet the primary endpoint of demonstrating a statistically significant difference from placebo in the change from baseline of the investigator rating of the Conners' Adult ADHD Rating Scales (CAARS).

Shares of Alcobra Ltd (NASDAQ:ADHD) declined on January 17, 2017, to as low as $0.83 per share.

On January 20, 2017, NASDAQ:ADHD shares closed at $0.99 per share.