Cassava Sciences Faces Class Action Lawsuits Over Alleged Data Manipulation

Investors allege significant losses due to misrepresented effectiveness of Alzheimer's drug candidate, simufilam.

Class action lawsuits have been filed against Cassava Sciences, Inc. for alleged securities fraud, with claims focusing on data manipulation and misrepresentation of their lead drug, simufilam.
Investigations into potential data manipulation by a key researcher associated with Cassava Sciences have raised concerns about the integrity of the drug's supporting studies.
The lawsuits allege that Cassava Sciences failed to maintain adequate data management controls, resulting in the publication of potentially manipulated data to overstate simufilam's effectiveness.
Cassava Sciences' stock price fell significantly following the revelations, causing substantial losses to investors.
Other companies, including New York Community Bancorp, Amylyx Pharmaceuticals, and InMode Ltd., are also facing class action lawsuits for various allegations of misleading investors.