LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cassava Sciences, Inc. (“Cassava” or “the Company”) (NASDAQ: SAVA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Cassava announced purportedly positive results from a clinical trial of simufilam for the treatment of Alzheimer’s patients. Despite the Company’s claims, on July 30, 2021, health industry news site STAT published concerns of scientists not affiliated with the study who described the results as “overblown” and “uninterpretable.” On August 18, 2021, a citizen petition was submitted to the FDA calling on the agency to halt ongoing studies of simufilam until such time as the agency could verify the data already submitted by the Company. The petition identifies alleged “errors and anomalies” in the Company’s data “of a sufficient frequency and magnitude to strongly suggest scientific misconduct.” Based on this news, shares of Cassava fell by more than 31% on August 25, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
