{"id":795248,"date":"2024-12-16T16:25:50","date_gmt":"2024-12-16T21:25:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-cassava-sciences-inc-sava\/"},"modified":"2024-12-16T16:25:50","modified_gmt":"2024-12-16T21:25:50","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-cassava-sciences-inc-sava","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-cassava-sciences-inc-sava\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Cassava Sciences, Inc. (SAVA)"},"content":{"rendered":"
\n

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of all persons or entities who purchased or otherwise acquired Cassava Sciences, Inc. (\u201cCassava\u201d or the \u201cCompany\u201d) (NASDAQ: SAVA) securities between February 7, 2024 to November 24, 2024, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for the Company\u2019s investors under the federal securities laws.<\/p>\n

The Complaint alleges that Defendants provided investors with material information concerning Cassava’s leading drug candidate, simufilam. Defendants\u2019 statements included, among other things, clear confidence in simufilam\u2019s ability to treat Alzheimer\u2019s Disease. On November 25, 2024, the Company released topline results for the first of its two ongoing Phase 3 studies on simufilam, the \u201cReThink-ALZ\u201d study. The results indicated that simufilam failed to meet each of the pre-specified primary, secondary, and exploratory endpoints; in sum, simufilam failed to outperform the placebo. Following this news, the price of Cassava\u2019s common stock declined dramatically. From a closing market price of $26.48 per share on November 22, 2024, Cassava’s stock price fell to $4.30 per share on November 25, 2024, a decline of about 83.76% in the span of just a single day.<\/p>\n

Investors who purchased or otherwise acquired shares of Cassava should contact the Firm prior to the February 10, 2025<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
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\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Dec. 16, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of all persons or entities who purchased or otherwise acquired Cassava Sciences, Inc. (\u201cCassava\u201d or the \u201cCompany\u201d) (NASDAQ: SAVA) securities between February 7, 2024 to November 24, 2024, inclusive (the \u201cClass Period\u201d). The lawsuit seeks to recover damages for the Company\u2019s investors under the federal securities laws. The Complaint alleges that Defendants provided investors with material information concerning Cassava’s leading drug candidate, simufilam. Defendants\u2019 statements included, among other things, clear confidence in simufilam\u2019s ability to treat Alzheimer\u2019s Disease. On November 25, 2024, the Company … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Cassava Sciences, Inc. (SAVA)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-795248","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Cassava Sciences, Inc. 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