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Boston, Massachusetts--(Newsfile Corp. - October 15, 2021) - Block & Leviton announces that a class action lawsuit has been filed against Cassava Sciences, Inc. (NASDAQ: SAVA) for potential securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/sava.
What is this all about?
Earlier today the National Institute of Health "NIH" indicated it is aware of previous allegations related to Cassava Sciences' experimental Alzheimer's drug simulfilam, and stated "NIH takes all allegations of scientific misconduct very seriously but can neither confirm nor deny ongoing investigations." This announcement follows an August 24, 2021, report of a letter posted on a government website urging the U.S. Food and Drug Administration's (FDA) center for drug evaluation and research to pause simulfilam clinical trials over concerns about the quality of studies into the drug.
Previously shares of Cassava's stock plunged over 20%, in after hours trading on August 24, 2021. Today, shares fell another 7% following news of the NIH statement.
Who is eligible?
Anyone who purchased Cassava stock between September 14, 2020 and August 27, 2021 is potentially eligible, whether or not they have sold their investment. Investors should contact Block & Leviton to learn more.
What should you do next?
The deadline to seek appointment as lead plaintiff is October 26, 2021. A class has not yet been certified, and until a certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Why should you contact Block & Leviton?
Many law firms have issued releases about this matter; most of those firms do not actually litigate securities class actions. Block & Leviton is a law firm that actually litigates cases. We are dedicated to obtaining significant recoveries on behalf of defrauded investors through active litigation in the federal courts across the country. Many of the nation's top institutional investors hire us to represent their interests. You can learn more about us at our website, www.blockleviton.com, or call (617) 398-5600 or email email@example.com with any questions.
This notice may constitute attorney advertising.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/99901