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NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) – Scott + Scott Attorneys at Law LLP (“Scott + Scott”), an international law firm specializing in shareholder and consumer rights, is investigating whether Cassava Sciences, Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA) or any of its officers and directors have violated US securities laws. If you have bought cassava securities and have recently suffered a loss, You are encouraged to contact or contact Scott + Scott attorney Joe Pettigrew at 844-818-6982 jpettigrew@scott-scott.com for more informations.
The investigation focuses on whether Cassava and any of its officers and / or directors have committed securities fraud or other illegal business practices.
On July 29, 2021, Cassava published a press release entitled “Cassava Sciences Announces Positive Cognitive Data With Simufilam In Alzheimer’s Disease”. The press release allegedly touted positive cognitive data, but analysts and industry watchers noted that the data did not show that simufilam was more effective at improving cognition than Biogen Inc.’s already-approved drug, Aduhelm.
As a result of this news, Cassava’s share 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 application regarding the company was filed with the U.S. Food and Drug Administration. The petition challenged the quality and integrity of the cassava study results, specifically alleging evidence of data tampering.
As a result of this news, Cassava’s share price fell $ 36.97 per share, or 31.38%, to close at $ 80.86 per share on August 25, 2021.
At noon on August 30, 2021, the stock is trading at $ 54.31.
What you can do
If you have purchased cassava stock or security and would like to discuss this investigation, please contact attorney Joe Pettigrew at 844-818-6982 or at jpettigrew@scott-scott.com.
About Scott + Scott Lawyers LLP
Scott + Scott has extensive experience pursuing major securities, antitrust, and employee retirement plans in the United States. The firm represents pension funds, foundations, individuals and other companies worldwide with offices in New York, London, Amsterdam, Connecticut, California, Virginia and Ohio.
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CONTACT:
Joe Pettigrew
Scott + Scott Lawyers LLP
230 Park Avenue, 17th floor, New York, NY 10169
844-818-6982
jpettigrew@scott-scott.com
