| COMPANY |
Cassava Sciences, Inc. |
| COURT |
United States District Court for the Western District of Texas |
| CASE NUMBER |
21-cv-00751 |
| JUDGE |
Honorable David A. Ezra |
| CLASS PERIOD |
September 14, 2020 through August 27, 2021 |
| SECURITY TYPE |
All Securities |
Case Background:
This is a federal securities fraud class action lawsuit on behalf of all persons and entities that purchased or otherwise acquired Cassava Sciences, Inc. (“Cassava”) (NASDAQ: SAVA) securities between September 14, 2020 and October 12, 2023, inclusive (the “Class Period”). The Class Period commences on September 14, 2020, when Cassava announced the final results from its Phase 2b clinical study of its drug simufilam in a press release that stated, in relevant part, that “simufilam significantly improved an entire panel of validated biomarkers of disease in patients with Alzheimer’s disease.”
The complaint alleges that throughout the Class Period, the Defendants failed to disclose to investors that: (1) data underlying the foundational research for Cassava’s product candidates had been manipulated; (2) several of Cassava’s scientists had longstanging patterns of data duplication and manipulation, as well as not being qualified for certain analyses; (3) biomarker analysis for patients treated with simufilam had been manipulated to conclude that simufilam was effective; (4) Quanterix, an independent company, had not interpreted the test results or prepared the data charts for the biomarker analysis for patients treated with simufilam; (5) 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 (6) as a result of the foregoing, the defendants’ positive statements about Cassava’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On August 12, 2025, the Court granted the Motion for Class Certification. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; 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.