Cassava Sciences Investors Alerted About Class Action Suit and Important Deadline

Important Class Action Alert for Cassava Sciences, Inc. Investors

Levi & Korsinsky, LLP has recently issued a notification to investors in Cassava Sciences, Inc. (NASDAQ: SAVA) regarding a class action securities lawsuit. This legal action arises from alleged securities fraud that may have negatively impacted investors between February 7, 2024, and November 24, 2024.

Case Background

The focus of the lawsuit is on claims relating to Cassava's leading drug candidate, simufilam, which was presented with high expectations to treat Alzheimer's Disease. According to the complaint, those associated with the company made significant disclosures that led to an inflated company image. Investors were told that simufilam had the potential to deliver considerable advancements in the treatment of Alzheimer's Disease, providing them with a sense of security in their investments. However, the situation took a drastic turn on November 25, 2024.

On this date, Cassava released findings from its first pivotal Phase 3 study, referred to as the "ReThink-ALZ" study, which indicated that simufilam did not meet any of its primary, secondary, or exploratory endpoints—effectively failing to outperform a placebo. The market reaction was immediate and severe; on November 22, 2024, Cassava's stock closed at $26.48 per share, yet by November 25, it plummeted to just $4.30 per share—a staggering decline of approximately 83.76% within a mere 24 hours.

Investors' Actions

For investors who feel they were negatively affected by this situation, the window to take action is limited. They have until February 10, 2025, to apply for lead plaintiff status in this class action lawsuit. It is important to note that participating in this lawsuit does not require individuals to take on the role of lead plaintiff in order to share in any potential recovery.

No Out-of-Pocket Costs

Levi & Korsinsky emphasizes that there are no fees or costs to the investors for participating in this case. If an individual qualifies as a class member, they may receive compensation without incurring any out-of-pocket expenses or fees. Furthermore, involvement in the lawsuit is entirely voluntary, providing a hassle-free avenue for those who might have suffered losses.

Why Levi & Korsinsky?

With two decades of experience, Levi & Korsinsky has established itself as a formidable advocate for investors' rights, reportedly securing hundreds of millions for those who have sustained losses due to corporate misconduct. Their legal team specializes in complex securities litigation, making them extremely well-equipped to handle this case.

Recently, the firm has earned a prestigious spot on ISS Securities Class Action Services' Top 50 Report for seven consecutive years, highlighting its reputation as one of the top securities litigation firms in the United States.

Getting In Touch

If you believe you are a member of the affected group or need further information regarding this case, you can contact Levi & Korsinsky directly. Joseph E. Levi can be reached at [email protected] or by phone at (212) 363-7500. Your engagement could be pivotal in seeking justice for investor losses stemming from alleged misrepresentation by Cassava Sciences, Inc.

As events unfold, staying informed and proactive becomes crucial for investors navigating the complexities of securities litigation. For those affected, this legal development represents an essential opportunity to reclaim their losses.

Conclusion

The recent alerts surrounding Cassava Sciences, Inc. highlight the importance of transparency and honest communication in the investment community. As this class action lawsuit progresses, investors remain hopeful for a just resolution that holds the organization accountable for any alleged fraudulent activities.