NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Verra Mobility Corp. (NASDAQ: VRRM), Cassava Sciences, Inc. (NASDAQ: SAVA), Dentsply Sirona, Inc. (NASDAQ: XRAY), and Axsome Therapeutics, Inc. (NASDAQ: AXSM). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Verra Mobility Corp. (NASDAQ: VRRM)
On February 28, 2022, Verra Mobility announced that it filed a notice of late filing with the SEC, because it will not be able to file its Form 10-K for the year ended December 31, 2021 by the due date of March 1, 2022, and the Company is not expected to do so within the allowable 15-day extension period.
Further, Verra Mobility announced that “[d]uring its year-end 2021 financial statement review process, Verra Mobility . . . determined that revenues from the Company's recently acquired Australian subsidiary, Redflex Holdings Limited, may not have been recorded in accordance with generally accepted accounting principles. The Company’s Audit Committee is conducting an investigation of the circumstances surrounding these issues to determine, among other things, whether any related adjustment is necessary for the previously issued financial statements for the second and third quarters of fiscal year 2021.”
On this news, Verra Mobility’s stock dropped as much as 7.6% during intraday trading on February 28, 2022, thereby injuring investors.
For more information on the Verra investigation go to: https://bespc.com/cases/VRRM
Cassava Sciences, Inc. (NASDAQ: SAVA)
On April 18, 2022, The New York Times published an article entitled “Scientists Question Data Behind an Experimental Alzheimer’s Drug.” The article addressed Cassava’s experimental Alzheimer’s drug, simufilam, and reported that one of Cassava’s advisers, Dr. H.Y. Wang, had five papers he authored retracted from the scientific journal PLoS One after an in-depth investigation revealed “serious concerns about the integrity and the reliability of the results.”
On this news, Cassava’s stock price fell sharply during intraday trading on April 19, 2022.
For more information on the Cassava investigation go to: https://bespc.com/cases/SAVA
Dentsply Sirona, Inc. (NASDAQ: XRAY)
On April 19, 2022, the Company issued a press release announcing the termination of Chief Executive Officer, Don Casey, effective immediately, and that Casey will also cease to serve as a member of the Company’s Board.
Following this news, shares of Dentsply Sirona dropped sharply by $6.52 per share, over 13%, to close at $42.20 per share on April 19, 2022.
For more information on the Dentsply Sirona investigation go to: https://bespc.com/cases/XRAY
Axsome Therapeutics, Inc. (NASDAQ: AXSM)
Before the market opened on August 9, 2021, Axsome announced that the U.S. Food and Drug Administration (FDA) had identified deficiencies in their review of Axsome's New Drug Application (NDA) for AXS-05. The Company said it is attempting to learn the nature of the discrepancies in order to address them, but said the development may lead to a delay in the potential approval of AXS-05.
On this news shares of Axsome stock fell 40% in intraday trading.
For more information on the Axsome investigation go to: https://bespc.com/cases/AXSM
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
