Lawsuit filed for Investors in shares of Cassava Sciences, Inc. (NASDAQ: SAVA)

An investor, who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA), filed a lawsuit over alleged Securities Laws violations by Cassava Sciences, Inc..

Investors who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA) have certain options and for certain investors are short and strict deadlines running. Deadline: October 26, 2021. NASDAQ: SAVA investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Austin, TX based Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases.

On August 24, 2021, after the market closed, it was revealed that a Citizen Petition was filed with the United States Food and Drug Administration ("FDA") requesting that the FDA halt two ongoing trials of Cassava Sciences, Inc’s proprietary drug Simufilam. The Citizen Petition alleges that the foundational science and studies supporting Cassava Sciences, Inc’s use of Simufilam are based on systemic data manipulation and misrepresentation.

Shares of Cassava Sciences, Inc. (NASDAQ: SAVA) declined from $123.37 per share on August 24, 2021, to as low as $49.29 per share.

The plaintiff claims that between February 2, 2021 and August 24, 2021, the defendants made false and misleading statements and failed to disclose that the quality and integrity of the scientific data supporting Cassava Sciences’ claims for simufilam’s efficacy had been overstated, that the scientific data supporting Cassava Sciences’ claims for simufilam’s efficacy were biased; and that as a result, defendants’ positive statements during the Class Period about Cassava Sciences’ business metrics and financial prospects and the likelihood of U.S. Food Drug Administration ("FDA") approval were false and misleading and/or lacked a reasonable basis.

Those who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.