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SAN DIEGO, Oct. 24, 2021 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Cassava Sciences, Inc. ("Cassava” or the "Company") (NASDAQ: SAVA). The class action is on behalf of shareholders who purchased Cassava common stock between September 14, 2020 and August 27, 2021. If you wish to serve as lead plaintiff in this class action, you must move the Court no later than October 26, 2021.
According to the filed complaint: (a) the quality and integrity of the scientific data supporting Cassava's claims for simufilam's, a small molecule drug designed to treat Alzheimer's disease, efficacy had been overstated; (b) the scientific data supporting Cassava's claims for simufilam's efficacy were biased; and (c) as a result of the foregoing, Defendants' positive statements during the Class Period about the Company's business metrics and financial prospects and the likelihood of Food and Drug Administration approval were false and misleading and lacked a reasonable basis.
A lead plaintiff will act on behalf of all other class members in directing the Cassava class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Cassava class action lawsuit is not dependent upon serving as lead plaintiff.
If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can [click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471