NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of Cassava Sciences, Inc. (NASDAQ: SAVA) between February 7, 2024 and November 24, 2024. Cassava describes itself as a “clinical stage biotechnology company, with a focus on developing drugs for neurodegenerative diseases.”
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Cassava Sciences, Inc. (NASDAQ: SAVA) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period created the false impression that they possessed reliable information pertaining to Cassava’s drug prospects and anticipated growth while also minimizing risk from a potential drug failure. Yet, in truth, Cassava’s repeated statements of confidence in their drug and reliance upon spinning the statistically insignificant data from the Phase 2 study fell short of the reality of simufilam’s potential, Cassava’s leading drug candidate; Cassava simply did not have a drug that was capable of abating the progression of Alzheimer’s Disease, even when attempting to treat only the mild and moderate cases. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Cassava Sciences, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by February 10, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.
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