Cassava Sciences Shareholders Advised on Class Action Deadline Amid Major Stock Drop
Investors in Cassava Sciences, Inc. (Nasdaq: SAVA) have been alerted by ClaimsFiler, a free information service for shareholders, regarding an important deadline for filing to be a lead plaintiff in a securities class action lawsuit. This lawsuit affects those who purchased Cassava's securities between February 7, 2024, and November 24, 2024. The deadline to file lead plaintiff applications is February 10, 2025.
The lawsuit is currently pending in the U.S. District Court for the Western District of Texas. It alleges that Cassava Sciences and certain executives did not disclose critical information during the class period, thereby violating federal securities laws. Investors who suffered losses over $100,000 during this timeframe are especially encouraged to take action as they may be entitled to recover a portion of their losses.
On November 25, 2024, Cassava announced disappointing results from its Phase 3 study regarding the drug candidate, simufilam, used for Alzheimer’s disease. The study, termed "ReThink-ALZ," indicated that simufilam did not meet the pre-specified primary, secondary, or exploratory endpoints, failing to outperform a placebo. As a direct consequence of this news, shares plunged approximately 83%, dropping from $26.48 per share on November 22, 2024, to just $4.30 on November 25, 2024.
The case is identified as Crocker v. Cassava Sciences, Inc., et al., No. 24-cv-1525. Investors should visit ClaimsFiler’s website for detailed information about their rights and the filing process. Additionally, they can upload their transaction data to stay informed about relevant legal proceedings that may impact their investments.
Cassava’s management is under scrutiny not just from shareholders but also from federal regulators, as the poor performance of their lead drug candidate raises concerns about the company’s future. Simufilam was touted as a groundbreaking drug in the fight against Alzheimer’s, so these results are particularly troubling.
For those impacted, ClaimsFiler and the law firm Kahn Swick & Foti, LLC are available to discuss potential legal actions and assist investors in navigating this complex situation. This alert acts as a reminder that in the world of securities, transparency and timely action can significantly affect financial outcomes.
Investors are encouraged to act swiftly and consult the necessary legal resources to ensure they can recoup losses effectively. In a market characterized by volatility, staying informed is vital for shareholders seeking to protect their interests and investments. As the legal proceedings unfold, further updates will be critical for current and potential investors of Cassava Sciences.
The lawsuit is currently pending in the U.S. District Court for the Western District of Texas. It alleges that Cassava Sciences and certain executives did not disclose critical information during the class period, thereby violating federal securities laws. Investors who suffered losses over $100,000 during this timeframe are especially encouraged to take action as they may be entitled to recover a portion of their losses.
On November 25, 2024, Cassava announced disappointing results from its Phase 3 study regarding the drug candidate, simufilam, used for Alzheimer’s disease. The study, termed "ReThink-ALZ," indicated that simufilam did not meet the pre-specified primary, secondary, or exploratory endpoints, failing to outperform a placebo. As a direct consequence of this news, shares plunged approximately 83%, dropping from $26.48 per share on November 22, 2024, to just $4.30 on November 25, 2024.
The case is identified as Crocker v. Cassava Sciences, Inc., et al., No. 24-cv-1525. Investors should visit ClaimsFiler’s website for detailed information about their rights and the filing process. Additionally, they can upload their transaction data to stay informed about relevant legal proceedings that may impact their investments.
Cassava’s management is under scrutiny not just from shareholders but also from federal regulators, as the poor performance of their lead drug candidate raises concerns about the company’s future. Simufilam was touted as a groundbreaking drug in the fight against Alzheimer’s, so these results are particularly troubling.
For those impacted, ClaimsFiler and the law firm Kahn Swick & Foti, LLC are available to discuss potential legal actions and assist investors in navigating this complex situation. This alert acts as a reminder that in the world of securities, transparency and timely action can significantly affect financial outcomes.
Investors are encouraged to act swiftly and consult the necessary legal resources to ensure they can recoup losses effectively. In a market characterized by volatility, staying informed is vital for shareholders seeking to protect their interests and investments. As the legal proceedings unfold, further updates will be critical for current and potential investors of Cassava Sciences.
Topics Financial Services & Investing）
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