Cassava Sciences, Inc.
A securities class action has been filed in the USDC — N.D.IL. against Cassava Sciences, Inc. (SAVA) (“Cassava” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Cassava securities between August 18, 2022 and October 12, 2023, both dates inclusive (the “Class Period”).
Cassava is a clinical-stage biotechnology company. The Company’s lead therapeutic drug candidate is PTI-125 (or “simufilam”), a small molecule drug for the proposed treatment of Alzheimer’s disease.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:
(1) the Company failed to maintain adequate and effective data management controls and procedures related to its drug research programs;
(2) as a result, the data published in support of simufilam were susceptible to manipulation to overstate the drug’s effectiveness;
(3) accordingly, Cassava had misrepresented the efficacy of its research programs and the clinical and/or commercial prospects of simufilam;
(4) all of the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and
(5) as a result, the Company’s public statements were materially false and misleading at all relevant times, thereby harming investors.
If you purchased Cassava securities during the Class Period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.
An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.