Philadelphia, Pennsylvania--(Newsfile Corp. - October 1, 2026) - What is The Investigation About? Grabar Law Office is investigating whether certain officers and directors of Anavex Life Sciences Corp. (NASDAQ: AVXL) breached their fiduciary duties owed to the Company and its shareholders.

Current Anavex (NASDAQ: AVXL) shareholders who have held Anavex shares since on or before November 26, 2025, visit https://grabarlaw.com/the-latest/anavex-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever. Alternatively, if you purchased Anavex shares between November 26, 2025 and August 28, 2026, you can participate in the class action.

What is Alleged? As alleged in a recently filed federal securities fraud class action complaint, Anavex Life Sciences Corp. (NASDAQ: AVXL), through certain of its officers, made false and/or misleading statements and/or failed to disclose that: (i) Anavex lacked adequate internal controls; (ii) Anavex understated its potential regulatory challenges as a result of misconduct by former CEO Christopher Missling; and (iii) as a result, defendants' statements about Anavex's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On May 6, 2026, Anavex filed a current report on Form 8-K with the United States Securities and Exchange Commission ("SEC"), allegedly stating that "[o]n April 30, 2026, a special committee (the "Special Committee") composed of independent directors of the Board of Directors (the "Board") of Anavex Life Sciences Corp. (the "Company") terminated the employment of Christopher Missling, PhD as the Company's Chief Executive Officer for Cause (as defined in the Employment Agreement, dated as of June 27, 2013, between Dr. Missling and the Company, as amended and restated), effective immediately, for, among other things, conduct that the Special Committee believed was inconsistent with Company policy." On this news, the price of Anavex stock declined nearly 1%, according to the complaint.

Then, on May 11, 2026, after market hours, Anavex filed with the SEC a notification of late filing on Form 12b-25, allegedly stating that Anavex was "unable to timely file its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026," due in part to Anavex's internal review of "certain matters related to the termination of Dr. Missling." On this news, the price of Anavex stock fell nearly 6%, according to the complaint.

Finally, on August 28, 2026, after market hours, Anavex filed with the SEC an amended annual report on Form 10-K/A for the fiscal year ended September 30, 2025, allegedly disclosing in part that "[a]s a result of the review by the Special Committee, management, in consultation with the Audit Committee of the Board (the "Audit Committee"), concluded that there was a material weakness in internal control over financial reporting that existed at September 30, 2025," and that Anavex's "disclosure controls and procedures were not effective as of September 30, 2025, due to the material weakness in internal control over financial reporting as described above." That same day, Anavex allegedly filed with the SEC its quarterly reports for the periods ending March 31, 2026 and June 30, 2026, which both contained the following disclosure: "[f]ollowing the previously disclosed termination of our former CEO in April 2026, management has determined that our disclosure controls and procedures and our internal controls over financial reporting were not effective as of September 30, 2025, December 31, 2025, March 31, 2026 and June 30, 2026." On this news, the price of Anavex stock declined more than 6%, according to the complaint.

What Can You Do Now? If you are a current Anavex (NASDAQ: AVXL) shareholder who has held Anavex shares since on or before November 26, 2025, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever. If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/anavex-shareholder-investigation/, contact us at jgrabar@grabarlaw.com, or call Joshua H. Grabar at 267-507-6085. Alternatively, if you purchased Anavex shares between November 26, 2025 and August 28, 2026, you can participate in the class action.

Attorney Advertising Disclaimer

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316887

Source: Grabar Law Office