Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Annovis Bio, Inc. (“Annovis”) (NYSE: ANVS) common stock between May 21, 2021 and July 28, 2021, inclusive (the “Class Period”).
The Class Period commences on May 21, 2021, when Annovis issued a press release entitled “Annovis Bio Announces Positive Phase 2 Data – ANVS401 Improves Cognition in Alzheimer’s Disease – Patients’ Cognition Improved 3.3 Points on ADAS-Cog11.” Then, on June 1, 2021, Annovis issued a press release entitled “Annovis Bio’s ANVS401 Improves Speed and Accuracy in Alzheimer’s and in Parkinson’s Patients.”
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Annovis’s ANVS401 did not show statistically significant results across two patient populations as to factors such as orientation, judgement, and problem solving; and (2) as a result of the foregoing, Defendants’ positive statements about Annovis’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On October 12, 2021, Lead Plaintiff filed a Motion for Voluntary Dismissal. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.