SAVA: Berman Tabacco Alerts Investors with Losses Over $200,000 in Cassava Sciences, Inc. of Approaching Lead Plaintiff Deadline
Boston, Massachusetts--(Newsfile Corp. - September 22, 2021) - Berman Tabacco, a national law firm representing investors, is investigating potential securities law violations by Cassava Sciences, Inc. ("Cassava" or the "Company") (NASDAQ: SAVA), a drug development company.
About the Securities Class Action Filed
On August 27, 2021, a securities class action complaint 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 complaint alleges, among other things, that on August 24, 2021, "it was disclosed that the U.S. Food & Drug Administration ("FDA") had received a so-called Citizen Petition commencing an administrative action to 'halt two ongoing trials of the drug Simufilam . . . pending a thorough audit by the FDA.'" On this news, the price of Cassava common stock fell approximately 32%.
On August 30, 2021, a second class action was filed expanding the class period to include purchases of Cassava securities from September 14, 2020 through August 27, 2021 (the "Class Period").
How to Seek Appointment As Lead Plaintiff
If you wish to serve as Lead Plaintiff for the Class, you must file a motion to serve as Lead Plaintiff with the Court no later than October 26, 2021. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class. An investor's ability to share in any potential future recovery is not dependent upon serving as Lead Plaintiff.
A Lead Plaintiff is appointed by the court to represent the members of the putative class in the lawsuit. Typically, the Lead Plaintiff is the applicant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
If you sustained losses in excess of $200,000 from your transactions in Cassava securities during the Class Period and are interested in learning more about serving as Lead Plaintiff, please provide your information here: Shareholder Contact | Berman Tabacco.
Berman Tabacco typically represents individuals and entities in class actions on a contingency fee basis, meaning we advance all attorneys' fees and expenses in the litigation. If the case is successful, the firm will ask the court to award the firm attorneys' fees and the reimbursement of expenses from any settlement fund. If we are not successful, you will not be responsible for the reimbursement of attorneys' fees or expenses.
About Berman Tabacco
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has offices in Boston, Massachusetts and San Francisco, California.
This notice may constitute attorney advertising.
Jay Eng, Esq.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97311