According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that:
- Cassava failed to maintain adequate and effective data management controls and procedures related to its drug research programs;
- as a result, the data published in support of simufilam, Cassava’s lead therapeutic drug candidate, were susceptible to manipulation to overstate the drug’s effectiveness;
- accordingly, Cassava had misrepresented the efficacy of its research programs and the clinical and/or commercial prospects of simufilam;
- all of the foregoing, once revealed, was likely to subject Cassava to significant financial and/or reputational harm; and
- as a result, Cassava’s public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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