Faruqi & Faruqi, LLP is investigating the claims on behalf of cassava investors Investing.com

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Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson He encourages investors who have suffered losses of more than $75,000 in cassava to contact him directly to discuss their options

If you have suffered losses greater than $75,000 cassava between February 7, 2024 and November 24, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 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 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.

Faruqi & Faruqi 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 inception in 1995. See www.faruqilaw.com.

The complaint alleges that the defendants provided investors with significant information about Cassava’s flagship drug, Simufilam. Defendants’ statements included, among other things, a clear confidence in simufilam’s ability to treat Alzheimer’s disease. Defendants made these highly favorable statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts regarding the actual capabilities of Cassava’s drugs; Namely, that company simply did not have a drug that could mitigate the progression of Alzheimer’s disease. Such statements without these material facts induced plaintiff and other shareholders to purchase Cassava’s securities at artificially inflated prices. On November 25, 2024, Cassava announced the results of the first of its two ongoing phase 3 studies of simufilam, the “ReThink-ALZ” study. The results showed that simufilam failed to meet each of the pre-specified primary, secondary and exploratory endpoints; In summary, simufilam failed to outperform placebo.

Following this news, the price of Cassava’s common stock fell dramatically. From the closing market price of $26.48 per share on November 22, 2024, Cassava stock price dropped to $4.30 per share on November 25, 2024, which is about 83.76% decrease in the span of just one day .

A court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, who is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information about Cassava’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.

To view the original version of this press release, visit https://www.newsfilecorp.com/release/235676

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