Overview

A class action lawsuit has been filed against Cassava Sciences, Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA) and certain of the Company’s senior executive officers alleging violations of the federal securities laws.  The Cassava class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Cassava securities between February 7, 2024, to November 24, 2024, both dates inclusive (the “Class Period”).  Investors have until February 10, 2025, to seek appointment as lead plaintiff in the Cassava class action lawsuit.

Cassava is a clinical stage biotechnology company, with a focus on developing drugs for neurodegenerative diseases.  Cassava’s leading therapeutic candidate is simufilam, a proposed treatment for mild to moderate Alzheimer’s Disease.

The Cassava class action lawsuit alleges that 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 through the promotion of statistically insignificant Phase 2 results, patient elected enrollment in the open-label expansion studies, and the presentation of detailed plans for the future of the Company upon the conclusion of successful Phase 3 studies showing the effectiveness of simufilam, coupled with the absence of any detailed plan for the alternative scenario arising out of the drug’s failure.  Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true capabilities of Cassava’s drugs; notably, that the Company simply did not have a drug that was capable of abating the progression of Alzheimer’s Disease.  Such statements absent these material facts caused Plaintiff and other shareholders to purchase Cassava’s securities at artificially inflated prices.

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If you purchased or otherwise acquired Cassava securities between February 7, 2024, to November 24, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Cassava class action lawsuit is February 10, 2025.