NEW YORK, March 14, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased or otherwise acquired securities of Anavex Life Sciences Corporation (“Anavex” or the “Company”) (NASDAQ: AVXL) between February 1, 2022 and January 1, 2024, both dates inclusive (the “Class Period”).
The Complaint alleges that Defendants misled investors by providing a materially flawed and inaccurate impression of the Company’s research program and of blarcamesine’s actual likelihood of success in the Rett syndrome trials. The Complaint further alleges that on January 2, 2024, the Company announced the Excellence study results and in doing so revealed that the Company used the “MMRM” method – a statistical method not previously used by the Company in its prior blarcamesine studies – to analyze the data and that the Excellence study failed to achieve statistical significance on all but one measure. On this news, the price of the Company’s stock fell more than 35%.
Investors who purchased or otherwise acquired shares of Anavex should contact the Firm prior to the May 13, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
