Cassava Sciences(SAVA) Prnewswire·2025-01-24 00:06Lawsuit Overview - A securities class action lawsuit has been filed against Cassava Sciences Inc (NASDAQ: SAVA) in the United States District Court for the Western District of Texas [1] - The lawsuit is on behalf of investors who purchased or acquired Cassava securities between February 7, 2024, and November 24, 2024 [1] - The lead plaintiff deadline is February 10, 2025 [1] Allegations Against Cassava Sciences - Defendants allegedly made materially false and/or misleading statements during the Class Period [2] - Defendants failed to disclose material adverse facts about the company's business, operations, and prospects [2] - Specifically, Cassava's drug simufilam was not capable of abating the progression of Alzheimer's Disease, even in mild to moderate cases [2] - As a result, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis [2] Lead Plaintiff Process - Cassava investors may seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel by February 10, 2025 [3] - The lead plaintiff is usually the investor or small group of investors with the largest financial interest who are also adequate and typical of the proposed class of investors [3] - The lead plaintiff selects counsel to represent the lead plaintiff and the class [3] About the Law Firm - Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world [4] - The firm has recovered billions of dollars for victims of fraud and other corporate misconduct [4] - The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP [4]