Cassava Sciences, Inc.
(NASDAQ CM: SAVA)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Cassava Sciences, Inc. ("Cassava" or the "Company") on behalf of stockholders. A class action complaint has been filed against Cassava. The complaint alleges that defendants made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (i) data underlying the foundational research for Cassava's product candidates had been manipulated; (ii) experiments using post-mortem human brain tissue frozen for nearly ten years was contrary to a basic understanding of neurobiology; (iii) biomarker analysis for patients treated with simufilam had been manipulated to conclude that simufilam was effective; (iv) Quanterix, an independent company, had not interpreted the test results or prepared the data charts for the biomarker analysis for patients treated with simufilam; (v) as a result of the foregoing, there was a reasonable likelihood that Cassava would face regulatory scrutiny in connection with the development of simufilam; and (vi) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.