Philadelphia, Pennsylvania–(Newsfile Corp. – September 13, 2021) – Berger Montague is investigating securities fraud allegations against Cassava Sciences Inc. ("Cassava" or the "Company"). The Firm is investigating these claims on behalf of investors who purchased Cassava securities (NASDAQ: SAVA) between September 14, 2020 and August 27, 2021 (the "Class Period").
If you purchased Cassava securities during the Class Period, would like to discuss Berger Montague's investigation, or have questions concerning your rights or interests, please contact attorneys Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Michael Dell'Angelo at mdellangelo@bm.net or (215) 875-3080.
Whistleblowers: Anyone with non-public information regarding Cassava is encouraged to confidentially assist Berger Montague's investigation or take advantage of the SEC Whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of recoveries obtained by the SEC. For more information, contact us.
According to recently filed lawsuits, Cassava and members of senior management misrepresented the quality and integrity of the scientific data supporting the Company's claims regarding the efficacy of its Alzheimer's drug, simufilam.
On August 24, 2021, reports surfaced that a citizen petition was submitted to the FDA raising serious concerns about the quality and integrity of the studies surrounding simufilam. The petition further identified "errors and anomalies" in the data "of a sufficient frequency and magnitude to strongly suggest scientific misconduct." As additional facts came to light regarding Cassava's clinical trial, the price of the Company's shares declined precipitously, from a closing price of $117.83 on August 24, 2021 to a closing price of $58.34 per share on August 27 – a decline of 50%.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Michael Dell'Angelo, Managing Shareholder
Berger Montague
(215) 875-3080
mdellangelo@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96408
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