#United States #New York #Faruqi & Faruqi #Cassava Sciences #Investors Rights

Overview of the Investigation

Faruqi & Faruqi, LLP, a prominent national securities law firm, is delving into potential claims on behalf of investors against Cassava Sciences, Inc. This inquiry arises from significant price shifts in Cassava's stock following disclosures about its leading drug candidate, simufilam, which indicated an inability to meet key trial endpoints in the treatment of Alzheimer's Disease. As investors who acquired Cassava securities between February 7, 2024, and November 24, 2024, brace for the upcoming deadline, the firm is urging those affected to consider their rights and possible legal recourse.

Context Surrounding Cassava Sciences

Cassava Sciences, known for its involvement in developing treatments for neurological disorders, had built considerable investor optimism around its drug simufilam. However, recent developments have sparked concern. The company released topline results for the Phase 3 study, named "ReThink-ALZ," which failed to demonstrate the efficacy that had been promised. After this announcement on November 25, 2024, Cassava's stock price saw a staggering decline—from $26.48 to $4.30 in just a day, reflecting a collapse of approximately 83.76%. This drastic fall has prompted legal scrutiny regarding the accuracy of the information previously shared with investors.

Legal Implications and Investor Rights

As part of the investigation, Faruqi & Faruqi notes that misleading statements and concealment of crucial adverse information about simufilam could have manipulated the stock's market value. Shareholders who believe they were impacted should recognize that, if material facts had been disclosed accurately, many would not have purchased shares at inflated prices. The firm stresses the importance of acting quickly—February 10, 2025, is the critical date by which investors must move to be appointed as lead plaintiffs in the federal securities class action against Cassava.

How to Engage with the Investigation

Investors with losses in Cassava are encouraged to reach out to the firm for a consultation. This includes potential whistleblowers, former employees, or anyone possessing information regarding the conduct of Cassava Sciences. Here’s how to get involved:

• - Direct Contact: Investors can connect with the firm’s partner, Josh Wilson, by calling at 877-247-4292 or 212-983-9330 (Ext. 1310).
• - Class Action Details: Additional info on the class action can also be found at Faruqi & Faruqi’s website.

Conclusion

The unfolding investigation by Faruqi & Faruqi, LLP serves as an important reminder of the rights that investors maintain in the wake of potentially misleading corporate conduct. As Cassava Sciences faces legal challenges and scrutiny surrounding its drug development processes, shareholders impacted by the price drop should remain vigilant and proactive about their options. Faruqi & Faruqi, with a core focus on championing investor rights, stands ready to support those seeking justice in this volatile investment landscape.