ACCESSWIRE
02 Aug 2022, 22:01 GMT+10
PHILADELPHIA, PA / ACCESSWIRE / August 2, 2022 / Kaskela Law LLC announces that it is investigating Cassava Sciences, Inc. ('Cassava' or the Company) (NASDAQ:SAVA) on behalf of the Company's long-term investors.
On November 17, 2021, The Wall Street Journal reported that the 'Securities and Exchange Commission is investigating claims that Cassava Sciences Inc. … manipulated research results of its experimental Alzheimer's drug.' Following this news, shares of Cassava's stock declined $14.62 per share, or over 23% in value, to close on November 17, 2021 at $47.07 per share, on heavy trading volume.
Then, on July 27, 2022, Reuters reported that the U.S. Department of Justice ('DOJ') 'has opened a criminal investigation into Cassava Sciences Inc. involving whether the biotech company manipulated research results for its experimental Alzheimer's drug.' Reuters further reported that the DOJ's 'personnel conducting the investigation into … Cassava specialize in examining whether companies or individuals have misled or defrauded investors, government agencies or consumers.' Following this additional news, shares of Cassava's stock fell $3.03 per share, or nearly 14% in value, to close on July 27, 2022 at $18.69 per share.
The investigation seeks to determine whether the members of Cassava's board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Current Cassava stockholders who purchased or acquired shares of the Company's stock prior to September 14, 2020 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750, or by email ([email protected]) or online at https://kaskelalaw.com/cases/cassava-sciences-inc/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation, and has helped recover in excess of $100 million on behalf of victimized investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
[email protected]
Adrienne Bell, Esq.
[email protected]
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com
This notice may constitute attorney advertising in certain jurisdictions.
SOURCE: Kaskela Law LLC
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationSTOCKHOLM, Sweden: Swedish lithium-ion battery producer Northvolt announced this week that it would build a $5.2 billion gigafactory in the ...
SACRAMENTO, California: Fast food workers will now receive $20 per hour in California, after the governor signed a fast food ...
BEIJING, China: In a deal worth US$10 billion at list prices this week, state-owned carrier China Eastern Airlines announced that ...
BEIJING, China: This week, China Evergrande Group said its founder and chairman, Hui Ka Yan, is being investigated over suspected ...
RIVERSIDE COUNTY, California: In his opening statement this week in the first U.S. trial over allegations that a car autopilot ...
SEATTLE, Washington: As part of Washington's efforts to stop Big Tech from monopolizing the most lucrative parts of the internet, ...
TALLAHASSEE, Florida: The Florida Lottery said this week that the second-largest lottery winner in U.S. history has come forward to ...
VICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...
EL PASO, Texas: Over the weekend, Oscar Leeser, Mayor of El Paso, said that the surge in migrants crossing the ...
(Photo credit: Joe Nicholson-USA TODAY Sports) A day after strongly calling out the team's commitment to winning, Seattle Mariners catcher ...
(Photo credit: Rick Osentoski-USA TODAY Sports) The top seven teams in The Associated Press Top 25 remained unchanged from last ...
(Photo credit: Stephen Brashear-USA TODAY Sports) Entering the final day of the regular season, this is what is known: The ...