Berger Montague Investigates Allegations of Securities Fraud Against Cassava Sciences Inc. (SAVA); The lead applicant deadline is October 26, 2021
Philadelphia, PA – (Newsfile Corp. – September 29, 2021) – Berger Montague is investigating allegations of securities fraud 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 “Recourse Period”).
If you purchased Cassava securities during the Class Period, wish to discuss Berger Montague’s investigation, or have questions regarding your rights or interests, please contact Lawyers Andrew Abramowitz at [email protected] or (215) 875 -3015, or Michael Dell ‘Angelo at [email protected] 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’s whistleblower program. Under this program, whistleblowers who provide original information may receive rewards totaling up to thirty percent (30%) of the recoveries obtained by the SEC. For more information, contact us.
According to recently filed lawsuits, Cassava and members of senior management have misrepresented the quality and integrity of the scientific evidence supporting the company’s claims about the effectiveness of its Alzheimer’s drug, simufilam.
On August 24, 2021, reports surfaced that a citizen petition had been submitted to the FDA, raising serious concerns about the quality and integrity of studies surrounding simufilam. The petition further identified “errors and anomalies” in the data “of sufficient frequency and magnitude to strongly suggest scientific misconduct.” As more facts came to light regarding the cassava clinical trial, the company’s stock price fell 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 decrease of 50%.
Montague Shepherd, with offices in Philadelphia, Minneapolis, Washington, DC and San Diego, has been a pioneer in the field of securities class actions since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and is the lead lawyer in courts throughout the United States.
Andrew Abramowitz, Senior Counsel
Michael Dell’Angelo, Managing Shareholder
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