An investigation for investors in Cassava Sciences, Inc. (NASDAQ:SAVA) shares over potential securities laws violations by Cassava Sciences, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/02/2022 -- Cassava Sciences, Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements regarding Cassava Sciences, Inc's business, its prospects and its operations were materially false and misleading at the time they were made.
Austin, TX based Cassava Sciences, Inc., a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Cassava Sciences' lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial.
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 Sciences' experimental Alzheimer's drug, simufilam, and reported that one of Cassava Sciences' 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."
Shares of Cassava Sciences, Inc. (NASDAQ: SAVA) declined from $62.49 per share on February 10, 2022, to as low as $15.72 per share on May 12, 2022.
Those who purchased shares of Cassava Sciences, Inc. (NASDAQ: SAVA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.