Cassava Sciences Investors Invited to Join Class Action for Loss Recovery
In a significant development for investors of Cassava Sciences, Inc. (NASDAQ: SAVA), Levi & Korsinsky, LLP has announced the initiation of a class action securities lawsuit driven by allegations of securities fraud. This lawsuit aims to secure losses for shareholders impacted by recent corporate events, particularly those occurring between February 7, 2024, and November 24, 2024. This period has been marked by a string of concerning developments surrounding the firm’s lead drug candidate, simufilam, which were based on statements from the company that projected confidence in the drug’s potential to treat Alzheimer's Disease.
The turmoil began to surface when Cassava Sciences released troubling topline results from its ongoing Phase 3 studies of simufilam, specifically within the 'ReThink-ALZ' study on November 25, 2024. These results revealed that simufilam did not achieve intended outcomes and failed to outperform a placebo. This disappointment triggered a drastic decline in the stock price, which plunged approximately 83.76%—dropping from $26.48 per share on November 22, 2024, to only $4.30 per share two days later.
For investors who met losses during this challenging timeframe, Levi & Korsinsky is extending an invitation to those potentially affected to consider joining this class action suit. Investors have until February 10, 2025, to present their claims and have the court appoint them as the lead plaintiff. However, it's important to note that participating in the class action does not require any investor to take on the lead plaintiff role to share in possible financial reparations.
Participation in this class action involves no financial risks—a common stipulation as class members stand to gain compensation without any out-of-pocket expenses or fees. This represents an appealing option for investors who feel they were misled by the company's previous statements regarding the efficacy of simufilam.
Levi & Korsinsky boasts a well-established track record in securities litigation. Their team has successfully secured hundreds of millions of dollars for shareholders over two decades and holds a notable ranking within ISS Securities Class Action Services as one of the leading firms in the sector. With over 70 dedicated staff members, Levi & Korsinsky is fully equipped to handle complex legal challenges and serve the interests of their clients adeptly.
If you are a Cassava Sciences investor and would like to explore your legal options, you can reach out directly to Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 for more information. You can also visit their website at www.zlk.com for comprehensive details on the filing process and your rights as a shareholder.
As the situation unfolds, investors are encouraged to remain proactive about their investment and consider the potential recovery options available through this class action, which may help restore their financial standing in light of the severe losses incurred during the recent downturn at Cassava Sciences.
The turmoil began to surface when Cassava Sciences released troubling topline results from its ongoing Phase 3 studies of simufilam, specifically within the 'ReThink-ALZ' study on November 25, 2024. These results revealed that simufilam did not achieve intended outcomes and failed to outperform a placebo. This disappointment triggered a drastic decline in the stock price, which plunged approximately 83.76%—dropping from $26.48 per share on November 22, 2024, to only $4.30 per share two days later.
For investors who met losses during this challenging timeframe, Levi & Korsinsky is extending an invitation to those potentially affected to consider joining this class action suit. Investors have until February 10, 2025, to present their claims and have the court appoint them as the lead plaintiff. However, it's important to note that participating in the class action does not require any investor to take on the lead plaintiff role to share in possible financial reparations.
Participation in this class action involves no financial risks—a common stipulation as class members stand to gain compensation without any out-of-pocket expenses or fees. This represents an appealing option for investors who feel they were misled by the company's previous statements regarding the efficacy of simufilam.
Levi & Korsinsky boasts a well-established track record in securities litigation. Their team has successfully secured hundreds of millions of dollars for shareholders over two decades and holds a notable ranking within ISS Securities Class Action Services as one of the leading firms in the sector. With over 70 dedicated staff members, Levi & Korsinsky is fully equipped to handle complex legal challenges and serve the interests of their clients adeptly.
If you are a Cassava Sciences investor and would like to explore your legal options, you can reach out directly to Joseph E. Levi, Esq. via email at [email protected] or call (212) 363-7500 for more information. You can also visit their website at www.zlk.com for comprehensive details on the filing process and your rights as a shareholder.
As the situation unfolds, investors are encouraged to remain proactive about their investment and consider the potential recovery options available through this class action, which may help restore their financial standing in light of the severe losses incurred during the recent downturn at Cassava Sciences.
Topics Financial Services & Investing）
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