Cassava Sciences, Inc. Reaches Settlement in Securities Class Action Lawsuit

Cassava Sciences, Inc. has reached a settlement in a consolidated securities class action lawsuit. The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleged violations of federal securities laws. The settlement, agreed upon through mediation, involves the company paying $31.25 million to resolve all claims. This amount is expected to be placed in escrow in January 2026. The settlement includes a full release of claims against the company and certain officers, including those not directly party to the settlement but indemnified by the company. The company had previously reserved a loss contingency of $31.25 million in the second quarter of 2025 related to this action. A formal stipulation of settlement and motion for preliminary approval will be presented to the Texas District Court. The settlement is not an admission of fault or wrongdoing by Cassava Sciences.