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Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Over $75,000 In Cassava To Contact Him Directly To Discuss Their Options.
If you have a loss of more than $75,000 per Cassava between 7 February 2024 and 24 November 2024 and you would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson live to 877-247-4292 or 212-983-9330 (Ext. 1310).
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New York, New York–(Newsfile Corp. – January 16, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Cassava Sciences (NASDAQ:), Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA) and reminds investors of January 10, 2025 deadline seeking the role of lead plaintiff in a federal class action against the Company.
Faruqi & Faruqi is a leading national security law firm with offices in New York, Pennsylvania, California and Georgia. The firm has raised hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
The complaint alleges that the defendants provided investors with information related to Cassava’s main drug agent, simufilam. Defendants’ statements included, among other things, an implicit belief in simufilam’s ability to treat Alzheimer’s disease. The defendants made these very good claims to investors while at the same time, spreading false and misleading statements and/or hiding negative information about the true potential of Cassava drugs; in particular, the Company did not have a drug that could prevent the progression of Alzheimer’s Disease. In the absence of such statements these apparent facts led the Plaintiff and other shareholders to buy Cassava investments at artificial prices. On November 25, 2024, Cassava released the primary results of the first of two ongoing Phase 3 studies with simufilam, the “ReThink-ALZ” study. The results showed that simufilam failed to meet each of the primary, secondary and diagnostic endpoints; Overall, simufilam was more effective than placebo.
Following this news, the price of the common commodity of Cassava dropped significantly. From the closing market price of $26.48 per share on November 22, 2024, Cassava’s stock price dropped to $4.30 per share on November 25, 2024, down about 83.76% during the day only one.
The lead plaintiff appointed by the court is the investor with the greatest financial interest in the relief sought by a reasonable and common class of class members conducting and overseeing the case on behalf of the putative class. Any member of the arbitration panel may have the Court act as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent panel member. Your ability to participate in any recovery is not affected by the decision to serve as the lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information about Cassava’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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To view the source version of this release, please visit https://www.newsfilecorp.com/release/237208
