Cassava (SAVA) Drug Effectiveness Case

W.D. Texas

Court

1:24-cv-00590

Case number

18 Aug 2022

Class period Start

12 Oct 2023

Class period End

02 Apr 2024

Lead Plaintiff motion deadline

$SAVA stockholder filed a claim vs. Cassava for misrepresenting the efficacy of the research programs and the prospects of their drug.
The news about the drug caused $SAVA to fall 15%, losing $113M+ in shareholder value.
On October 12, 2023, Science reported that professor linked to Alzheimer's drug simufilam, faces investigation for potential data manipulation at CUNY. 
The university is probing "long-standing and egregious misconduct in data management and record-keeping." 
The committee, unable to access raw data, concluded there is strong evidence indicating deliberate scientific misconduct by Dr. Wang.
Following this news, $SAVA dropped by 15% the next day.

Based on these events, $SAVA stockholder filed a claim against Cassava and its leaders, accusing them of the following:
Cassava made false statements about data management controls for drug research programs.
The data supporting simufilam's effectiveness could be manipulated, leading to a misrepresented drug efficacy.
Considering all the representations, investors have reasons to suspect Cassava misleading them about data management controls for its drug research programs.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

13 October 2023

Filing date

02 February 2024

Lead Plaintiff Deadline

02 April 2024

Judge

David A. Ezra

Cassava (SAVA) Drug Effectiveness Case

Collecting participants…