Farooqui & Farooqui, Securities Litigation Partners LLP James (Josh) Wilson He encourages investors who have suffered losses exceeding $75,000 in cassava to contact him directly to discuss their options
If you suffer losses exceeding $75,000 Cassava Between February 7, 2024 and November 24, 2024 If you would like to discuss your legal rights, contact Farooqui & Farooqui Partner Josh Wilson live in 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – January 1, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Cassava Sciences (NASDAQ:), Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA) and reminds investors of February 10, 2025 deadline For the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Farooqui & Farooqui is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
The complaint alleges that the defendants provided investors with material information relating to cassava's lead drug candidate, simofilam. The defendants' statements included, among other things, apparent confidence in the ability of Simofilam to treat Alzheimer's disease. Defendants made these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material negative facts regarding the true capabilities of cassava medicines; It is worth noting that this company simply did not have a drug capable of stopping the progression of Alzheimer's disease. Such statements in the absence of these material facts caused Plaintiff and other shareholders to purchase Cassava securities at artificially inflated prices. On November 25, 2024, Cassava released preliminary results from the first of two ongoing Phase 3 studies of simovelam, the “ReThink-ALZ” study. Results indicated that simofilam failed to meet both prespecified primary, secondary, and exploratory endpoints; In summary, simovelam failed to outperform placebo.
Following this news, the price of Cassava Company's common stock fell significantly. From a market closing price of $26.48 per share on November 22, 2024, Cassava's stock price fell to $4.30 per share on November 25, 2024, a decline of approximately 83.76% in the period of just one day.
A court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class and is appropriate and typical for members of the class who direct and oversee litigation on behalf of the putative class. Any member of the putative class may ask the court to serve as lead plaintiff through counsel of their choice, or they may choose to do nothing and remain an absent member of the class. Your ability to participate in any recovery is not affected by the decision whether or not to serve as lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Cassava's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Lawyer advertisement. The law firm responsible for this announcement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar result with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
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