Class Action Alert for Cassava Sciences, Inc. Investors: Securities Fraud Concerns – WPRI.com
Investors are taking legal action against Cassava Sciences, Inc. in a securities fraud class action lawsuit. The lawsuit alleges that the company made false and misleading statements about its Alzheimer’s drug candidate, simufilam, and failed to disclose important information to investors.
According to the lawsuit, Cassava Sciences claimed that simufilam was “completely safe” and had “no dose-limiting side effects.” However, the company allegedly concealed data showing that patients in a phase 2b clinical study experienced serious adverse events.
Additionally, the lawsuit accuses Cassava Sciences of misleading investors about the drug’s efficacy. The company reportedly claimed that simufilam significantly improved patients’ cognition and behavior, but failed to disclose that the trial’s primary endpoints were changed midway through the study.
As a result of these alleged actions, investors suffered significant losses when the truth about simufilam’s clinical trial results came to light. The lawsuit seeks to recover damages on behalf of investors who purchased Cassava Sciences stock between February 2, 2021, and August 24, 2021.
Investors who believe they may have been affected by Cassava Sciences’ alleged misconduct are encouraged to contact the law firm handling the class action lawsuit. It’s important for investors to stay informed and seek legal recourse if they believe they have been harmed by securities fraud.
