NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether Cassava Sciences, Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA), or certain of its officers and directors, violated federal securities laws. If you purchased Cassava securities and recently suffered a loss, you are encouraged to contact Scott+Scott attorney Joe Pettigrew at 844-818-6982 or jpettigrew@scott-scott.com for more information.
The investigation focuses on whether Cassava and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 29, 2021, Cassava issued a press release entitled "Cassava Sciences Announces Positive Cognition Data With Simufilam in Alzheimer's Disease." The press release touted supposedly positive cognition data, but analysts and industry observers noted that the data had not demonstrated that Simufilam was more effective at improving cognition than Biogen Inc.'s already-approved drug, Aduhelm.
On this news, Cassava's stock price fell $33.82 per share, or 32.72%, to close at $69.53 per share on July 30, 2021.
Then, on August 24, 2021, a citizen’s petition concerning the Company was filed with the U.S. Food and Drug Administration. The petition questioned the quality and integrity of Cassava’s study results, specifically alleging signs of data manipulation.
On this news, Cassava's stock price fell $36.97 per share, or 31.38%, to close at $80.86 per share on August 25, 2021.
As of mid-day on August 30, 2021, the stock is trading at $54.31.
What You Can Do
If you purchased Cassava shares or securities, and you wish to discuss this investigation, please contact attorney Joe Pettigrew at 844-818-6982, or at jpettigrew@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia, and Ohio.
Attorney Advertising
CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com
