Class Action Suit Against Cassava Sciences Aims to Recover Investor Losses
Class Action Filed Against Cassava Sciences, Inc.
On January 30, 2025, The Gross Law Firm announced the filing of a class action lawsuit against Cassava Sciences, Inc. This legal action aims to provide a path for shareholders who purchased shares of Cassava Sciences (NASDAQ: SAVA) between February 7 and November 24, 2024, to recover losses linked to alleged misrepresentations concerning the company's drug candidate, simufilam, which is aimed at treating Alzheimer's disease.
Allegations
The lawsuit stems from serious allegations that Cassava's executives had misled investors about simufilam's efficacy. Prior to the release of key study results on November 25, 2024, defendants had publicly expressed strong confidence in simufilam's capabilities. However, the topline results of the Phase 3 study known as
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