19 Sep, 2021, 23:33 ET
NEW YORK, Sept. 19, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cassava Sciences, Inc. ("Cassava" or the "Company") (NASDAQ: SAVA). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Cassava and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 29, 2021, Cassava issued a press release entitled "Cassava Sciences Announces Positive Cognition Data With Simufilam in Alzheimer's Disease." Although the press release touted supposedly positive cognition data, analysts and industry observers noted that the data had not demonstrated that Simufilam was more effective at improving cognition than Biogen Inc.'s drug Aduhelm.
On this 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 filed with the U.S. Food and Drug Administration ("FDA") questioned the quality and integrity of study results from Cassava, alleging that some of Cassava's results appeared to show signs of data manipulation.
On this news, Cassava's stock price fell another $36.97 per share, or 31.38%, to close at $80.86 per share on August 25, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
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