Cassava Sciences Inc. agreed to pay investors about $31 million to settle claims that it misrepresented clinical study results for an Alzheimer’s disease treatment, according to a court filing.
The deal is fair and warrants preliminary approval, investors leading a class action told the US District Court for the Western District of Texas on June 18. The amount “represents a substantial portion of Cassava’s cash and cash equivalents on hand,” which totaled about $86 million as of May 7, they said.
Cassava and two former executives agreed in 2024 to pay more than $40 million to resolve similar Securities and ...