NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 10, 2025 to file lead plaintiff applications in a securities class action lawsuit against Cassava Sciences, Inc. (NasdaqCM: SAVA), if they purchased the Company’s securities between February 7, 2024 and November 24, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Western District of Texas.
What You May Do
If you purchased securities of Cassava and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-sava/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 10, 2025.
About the Lawsuit
Cassava and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 25, 2024, the Company disclosed topline results for the first of its two ongoing Phase 3 studies on its leading drug candidate, simufilam, the “ReThink-ALZ” study, that indicated that simufilam failed to meet each of the pre-specified primary, secondary, and exploratory endpoints; in sum, simufilam failed to outperform the placebo.
On this news, the price of Cassava’s shares fell approximately 83%, from a closing price of $26.48 per share on November 22, 2024, to $4.30 per share on November 25, 2024.
The case is Crocker v. Cassava Sciences, Inc., et al., No. 24-cv-1525.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Chicago, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
