SEC Charges Cassava Sciences, Two Former Executives For Misleading Claims About Alzheimer's Clinical Trial; Company To Pay Civil Penalty Of $40M
Portfolio Pulse from Benzinga Newsdesk
The SEC has charged Cassava Sciences and two former executives for misleading claims about an Alzheimer's clinical trial, resulting in a $40 million civil penalty. The company and executives have agreed to settlements without admitting or denying the allegations.
September 26, 2024 | 9:56 pm
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Cassava Sciences faces a $40 million penalty from the SEC for misleading claims about an Alzheimer's clinical trial. The company and former executives have settled without admitting guilt.
The SEC's charges and the substantial penalty are likely to negatively impact investor confidence in Cassava Sciences. The legal issues and penalties suggest potential risks and challenges for the company, which could lead to a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100