Cassava Sciences Reaches $31.25M Settlement in Investor Lawsuit

Cassava Sciences has agreed to settle a securities class action lawsuit for $31.25 million, covering investors who bought the company's stock or options between September 2020 and October 2023. The settlement does not include any admission of wrongdoing and was fully reserved in Q2 2023. The company's CEO, Rick Barry, recently acquired 237,941 shares at an average price of $2.25 each, injecting confidence following the discontinuation of the Alzheimer's drug simufilam.