Levi & Korsinsky Alerts Cassava Sciences Shareholders About Class Action Lawsuit Deadline
On February 4, 2025, Levi & Korsinsky, LLP announced an important notification to investors of Cassava Sciences, Inc. regarding a class action lawsuit. This legal action pertains to allegations of securities fraud that occurred between February 7, 2024, and November 24, 2024. Investors affected during this timeframe are urged to take note, as the lawsuit seeks to recover losses incurred due to misleading information provided by the company about its drug candidate, simufilam.
According to the lawsuit, Cassava Sciences' management expressed considerable confidence in simufilam's efficacy in treating Alzheimer’s Disease, promising potential breakthroughs. However, on November 25, 2024, the company released disappointing topline results from the first phase of its clinical studies, which failed to demonstrate any advantage over the placebo for the drug.
As a direct consequence of this announcement, Cassava's stock price experienced a staggering decline. The shares plummeted from a closing price of $26.48 on November 22, 2024, to just $4.30 shortly after, marking a dramatic loss of approximately 83.76% in a single day.
For those investors who suffered losses and are seeking justice, the deadline to request a lead plaintiff position in the lawsuit is February 10, 2025. It's crucial to understand that participating as a lead plaintiff is not a prerequisite for those wishing to join the lawsuit for potential compensation. Membership in this class action means that affected investors may recover losses without incurring any personal expenses, as there are no upfront costs associated with joining the case.
Levi & Korsinsky has a solid reputation in securities litigation and has successfully secured hundreds of millions of dollars for impacted shareholders over the past two decades. Their expertise in this legal domain will be invaluable for investors navigating the complexities of this class action lawsuit. The firm comprises a robust team exceeding 70 employees, dedicated to advocating for their clients' rights and ensuring they have access to the justice they deserve.
If you are an investor in Cassava Sciences, Inc. and are keen to understand your options, Levi & Korsinsky urges you to respond before the upcoming deadline. For inquiries, investors can reach out to Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500.
We will be following this case closely, as the ramifications of this lawsuit could significantly impact the shareholders of Cassava Sciences. Investors are advised to stay informed and act swiftly to protect their rights in what has become a highly scrutinized moment for the company. The outcomes of such cases not only hold financial implications but can also set precedence for future securities litigation.
According to the lawsuit, Cassava Sciences' management expressed considerable confidence in simufilam's efficacy in treating Alzheimer’s Disease, promising potential breakthroughs. However, on November 25, 2024, the company released disappointing topline results from the first phase of its clinical studies, which failed to demonstrate any advantage over the placebo for the drug.
As a direct consequence of this announcement, Cassava's stock price experienced a staggering decline. The shares plummeted from a closing price of $26.48 on November 22, 2024, to just $4.30 shortly after, marking a dramatic loss of approximately 83.76% in a single day.
For those investors who suffered losses and are seeking justice, the deadline to request a lead plaintiff position in the lawsuit is February 10, 2025. It's crucial to understand that participating as a lead plaintiff is not a prerequisite for those wishing to join the lawsuit for potential compensation. Membership in this class action means that affected investors may recover losses without incurring any personal expenses, as there are no upfront costs associated with joining the case.
Levi & Korsinsky has a solid reputation in securities litigation and has successfully secured hundreds of millions of dollars for impacted shareholders over the past two decades. Their expertise in this legal domain will be invaluable for investors navigating the complexities of this class action lawsuit. The firm comprises a robust team exceeding 70 employees, dedicated to advocating for their clients' rights and ensuring they have access to the justice they deserve.
If you are an investor in Cassava Sciences, Inc. and are keen to understand your options, Levi & Korsinsky urges you to respond before the upcoming deadline. For inquiries, investors can reach out to Joseph E. Levi, Esq. at [email protected] or call (212) 363-7500.
We will be following this case closely, as the ramifications of this lawsuit could significantly impact the shareholders of Cassava Sciences. Investors are advised to stay informed and act swiftly to protect their rights in what has become a highly scrutinized moment for the company. The outcomes of such cases not only hold financial implications but can also set precedence for future securities litigation.
Topics Financial Services & Investing）
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