Important Investor Alert: Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Cassava Sciences, Inc.
NEW YORK, NY – Levi & Korsinsky, LLP announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of shareholders of Cassava Sciences, Inc. (“Cassava Sciences” or “the Company”) (NASDAQ: SAVA). The lawsuit alleges that Cassava Sciences made false and/or misleading statements and/or failed to disclose material information in violation of the Securities Exchange Act of 1934.
Alleged Misconduct
The complaint alleges that Cassava Sciences made false and/or misleading statements and/or failed to disclose material information regarding the effectiveness and safety of its investigational drug, Paxinoside, for the treatment of progressive supranuclear palsy (“PSP”). Specifically, the complaint alleges that the Company’s statements about the drug’s potential benefits were not supported by the available clinical data and that the Company failed to disclose the results of a clinical trial showing that Paxinoside did not meet its primary endpoint.
Impact on Investors
As a result of this news, Cassava Sciences’ stock price has experienced significant declines, causing substantial losses for investors. Those who purchased or otherwise acquired Cassava Sciences securities between February 25, 2021 and January 11, 2023, inclusive (the “Class Period”), may be entitled to recover their losses. Investors who suffered losses during this time period are encouraged to contact Levi & Korsinsky, LLP to discuss their options for recovering their losses.
Impact on the World
The implications of this lawsuit extend beyond just Cassava Sciences and its investors. The allegations raise questions about the integrity of clinical trials and the regulatory process for approving new drugs. This case highlights the importance of transparency and accuracy in communications from biotech companies, particularly when it comes to the safety and efficacy of their treatments. It also underscores the need for investors to carefully evaluate the information provided by companies and to seek legal recourse when they believe they have been misled.
Conclusion
If you suffered significant losses and wish to obtain additional information and protect your investments or pursue a claim, please contact Levi & Korsinsky, LLP as soon as possible. We will carefully assess the merits of your claim and provide you with comprehensive guidance throughout the process. Levi & Korsinsky, LLP is a national firm with offices in New York, Connecticut, California, and Georgia. The firm’s attorneys have extensive expertise in prosecuting securities litigation and have recovered significant damages for investors.
- Levi & Korsinsky, LLP Announces Class Action Lawsuit Against Cassava Sciences, Inc.
- Alleged Misconduct: False and/or misleading statements and failure to disclose material information
- Impact on Investors: Substantial losses for those who purchased or otherwise acquired Cassava Sciences securities between February 25, 2021 and January 11, 2023
- Impact on the World: Questions about the integrity of clinical trials and regulatory process for approving new drugs
- Contact Levi & Korsinsky, LLP for guidance and to discuss options for recovering losses
