Cassava Sciences(SAVA) Prnewswire·2025-02-07 10:45Core Viewpoint - A class action securities lawsuit has been filed against Cassava Sciences, Inc. due to alleged securities fraud related to its drug candidate simufilam, which failed to meet clinical trial endpoints, leading to significant stock price decline [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors affected by alleged securities fraud between February 7, 2024, and November 24, 2024 [1]. - Defendants allegedly provided misleading information regarding simufilam's efficacy in treating Alzheimer's Disease, expressing confidence that was not substantiated by trial results [2]. - Following the release of disappointing Phase 3 study results on November 25, 2024, Cassava's stock plummeted from 4.30, a drop 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 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 [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].