Berman Tabacco alerts investors with losses of $ 100,000 from investments in Cassava Sciences, Inc. of deadline to apply as lead applicant

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Boston, Mass .– (Newsfile Corp. – Aug. 27, 2021) – Berman Tabacco, a national law firm representing investors, is investigating potential violations of securities law by Cassava Sciences, Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA), a drug development company.

If you have suffered losses greater than $ 100,000 of your cassava securities transactions during the Recourse Period and if you would like to know more about the role of Lead Complainant, please provide your information here: Contact shareholders | Berman tobacco.

About the filed securities class action

On August 27, 2021, a securities class action lawsuit was filed in the Western District of Texas on behalf of purchasers of cassava common stock between February 2, 2021 and August 24, 2021 inclusive (the “Class “).

The complaint alleges that on August 24, 2021, “it was revealed that the FDA had received a so-called citizen petition initiating administrative action to” stop two ongoing trials of the drug. [s]imufilam. . . pending a thorough audit by the FDA. On this news, the price of cassava ordinary shares fell about 32%.

According to the complaint, during the period under review, the defendants made false and misleading statements and failed to disclose that: “(a) that the quality and integrity of the scientific data supporting Cassava’s claims regarding the efficacy of simulfilam had been overestimated; the scientific data supporting Cassava’s claims regarding the efficacy of simulfilam were biased; and (c) that as a result, the Defendants’ positive statements during the Class Period regarding the Company’s business actions and financial prospects and the likelihood of FDA approval were false and misleading and / or lacking a reasonable basis. “

How to request an appointment as the principal applicant

If you wish to serve as a principal plaintiff for the class, you must file a motion to serve as a principal plaintiff with the court no later than October 26, 2021. Any member of the proposed class may propose to the Court to serve as principal plaintiff through any lawyer of their choice, or may choose to do nothing and remain a member of the proposed class. The ability of an investor to participate in any potential future recovery does not depend on their function as lead applicant.

A principal plaintiff is appointed by the court to represent the members of the putative class in the lawsuit. Typically, the lead claimant is the claimant with the greatest financial interest in the remedy sought by the putative class which is also typical and adequate of the putative class.

If you have suffered losses greater than $ 100,000 of your cassava securities transactions during the Recourse Period and if you would like to know more about the role of Lead Complainant, please provide your information here: Contact shareholders | Berman tobacco.

Berman Tabacco generally represents individuals and entities in contingency fee class actions, which means that we advance all attorney fees and costs in the litigation. If the case is successful, the firm will ask the court to award the firm’s attorney fees and reimbursement of costs from any settlement funds. If we are unsuccessful, you will not be responsible for reimbursement of attorney fees or costs.

About Berman Tabacco

Berman Tabacco is a national law firm representing institutions and individuals in legal proceedings seeking to recoup losses caused by corporate and board misconduct and violations of securities laws and antitrust. The company has offices in Boston, Massachusetts and San Francisco, California.

This notice may constitute a lawyer advertisement.

Contact:

Jay Eng, Esq.
(800) 516-9926
Email: [email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94714


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