Class Action Lawsuit Against Cassava Sciences: Key Details for Shareholders
Understanding the Class Action Against Cassava Sciences, Inc. (SAVA)
Overview of the Lawsuit
On January 27, 2025, The Gross Law Firm announced a class action lawsuit against Cassava Sciences, Inc. (NASDAQ: SAVA). This legal action is crucial for shareholders who purchased stocks during a specific period. The class period in question spans from February 7, 2024, to November 24, 2024. Investors are urged to come forward, especially those looking to be appointed as lead plaintiffs. However, it’s important to note that such an appointment is not a requirement to participate in any recovery efforts.
Allegations Against Cassava Sciences
The allegations outlined in the lawsuit suggest that Cassava Sciences misled investors about its leading drug candidate, simufilam. The defendants allegedly provided overly optimistic information regarding the drug's potential effectiveness in treating Alzheimer's Disease. On November 25, 2024, the company disclosed disappointing results from the first of its two ongoing Phase 3 studies, named the
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