The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Western District of Texas on behalf of investors who purchased Cassava Sciences, Inc. (NASDAQ: SAVA) securities between February 2, 2021 and August 24, 2021.
According to the Cassava lawsuit, throughout the Class Period defendants made 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 suffered a loss in Cassava you have until October 26, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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