The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Western District of Texas on behalf of shareholders of Cassava Sciences, Inc. who purchased shares between February 2, 2021 and August 24, 2021.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that:
(a) the quality and integrity of the scientific data supporting Cassava’s claims for simufilam’s, a small molecule drug designed to treat Alzheimer’s disease, efficacy had been overstated; (b) the scientific data supporting Cassava’s claims for simufilam’s efficacy were biased; and (c) as a result of the foregoing, Defendants’ positive statements during the Class Period about the Company’s business metrics and financial prospects and the likelihood of Food and Drug Administration approval were false and misleading and/or lacked a reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until October 26, 2021 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.