Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Suffering Losses Over $75,000 In Cassava To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $75,000 in cassava between February 7, 2024 and November 24, 2024 and want to discuss your legal rights, call 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. – December 25, 2024) – 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 filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

The complaint alleges that the defendants provided investors with material information about Cassava’s lead drug candidate, simufilam. Defendants’ statements include, among other things, an apparent reliance on simufilam’s ability to treat Alzheimer’s Disease. Defendants made these overly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing materially adverse facts about the true capabilities of the Cassava medicine; in particular, that Company does not have a drug that can prevent the progression of Alzheimer’s Disease. Such statements without these material facts caused the Plaintiff and other shareholders to buy Cassava securities at artificially inflated prices. On November 25, 2024, Cassava released topline results for the first of 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; Overall, simufilam failed to outperform placebo.

Following this news, the price of Cassava common stock dropped significantly. 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 one day. .

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

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

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/234566