NEW YORK, March 27, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Anavex Life Sciences Corp. ("Anavex" or the "Company") (NASDAQ: AVXL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Anavex and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until May 13, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Anavex securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On January 2, 2024, Anavex released the results of the Excellence study of blarcamesine (Anavex 2-73), the Company's primary product candidate. Despite Anavex's previous insistence that it would analyze the Excellence study's data using the same methods employed in the Company's earlier Avatar Phase II and Phase III trials of blarcamesine, Anavex in fact used different outcomes and statistical tests from those deployed in Avatar. The Excellence study data failed to reach statistical significance, with the Company blaming an ostensible statistical powering problem for the study's failure.
On this news, Anavex's stock price fell $3.26 per share, or 35.02%, to close at $6.05 per share on January 2, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
