1. Levi & Korsinsky initiates a class action lawsuit against Cassava Sciences. 2. The lawsuit covers allegations of securities fraud impacting investors' losses. 3. Cassava's drug simufilam failed key Phase 3 study endpoints. 4. SAVA stock dropped 83.76% after the disappointing study results.
The significant price drop after study results indicates a loss of investor confidence. A similar past decline occurred after negative clinical trial news.
The lawsuit directly involves SAVA and its stock price volatility due to recent events. Lawsuits often impact investor sentiment and future stock performance significantly.
The immediate reaction to class-action news will likely affect SAVA stock soon. Negative sentiment may linger but could stabilize due to potential future developments.
Levi & Korsinsky, LLP notifies investors in Cassava Sciences, Inc. ("Cassava Sciences, Inc." or the "Company") (NASDAQ: SAVA) of a class action securities lawsuit.
The lawsuit seeks to recover losses on behalf of Cassava Sciences, Inc. investors who were adversely affected by alleged securities fraud between February 7, 2024 and November 24, 2024. Follow the link below to get more information and be contacted by a member of our team:
Cassava Sciences Lawsuit Submission Form
SAVA investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.
According to the complaint, defendants provided investors with material information concerning Cassava's leading drug candidate, simufilam. Defendants' statements included, among other things, clear confidence in simufilam's ability to treat Alzheimer's Disease. On November 25, 2024, Cassava released topline results for the first of its two ongoing Phase 3 studies on simufilam, the "ReThink-ALZ" study. The results indicated that simufilam failed to meet each of the pre-specified primary, secondary, and exploratory endpoints; in sum, simufilam failed to outperform the placebo. Following this news, the price of Cassava's common stock declined dramatically. From a closing market 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 about 83.76% in the span of just a single day.
If you suffered a loss in Cassava Sciences, Inc. during the relevant time frame, you have until February 10, 2025 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.
If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.
Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP