Cassava Sciences(US:SAVA) Prnewswireยท2025-01-24 10:45Core Viewpoint - A class action securities lawsuit has been filed against Cassava Sciences, Inc. due to alleged securities fraud that negatively impacted investors between February 7, 2024, and November 24, 2024 [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors affected by the alleged fraud related to Cassava's drug candidate, simufilam, which was claimed to be effective in treating Alzheimer's Disease [2]. - On November 25, 2024, Cassava announced that simufilam failed to meet all primary, secondary, and exploratory endpoints in its Phase 3 "ReThink-ALZ" study, resulting in a significant stock price drop from $26.48 to $4.30, a decline of approximately 83.76% in one day [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified timeframe have until February 10, 2025, to request appointment as lead plaintiff, although participation in any recovery does not require this role [3]. - Class members may be eligible for compensation without incurring any out-of-pocket costs or fees [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years and consistently ranking among the top securities litigation firms in the U.S. [4].