Anavex Life Sciences Corporation Class Action Lawsuit - AVXL
Case Summary
Investors who suffered a loss and would like to learn more, click here to contact us.
The Anavex class action lawsuit seeks to represent purchasers or acquirers of Anavex Life Sciences Corporation (NASDAQ: AVXL) stock between February 1, 2022 and January 1, 2024, inclusive (the “Class Period”). Captioned Blum v. Anavex Life Sciences Corporation, No. 1:24-cv-01910 (S.D.N.Y.), the Anavex class action lawsuit charges Anavex and an Anavex executive with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Anavex class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Anavex class action lawsuit must be filed with the court no later than May 13, 2024.
CASE ALLEGATIONS: Anavex investigates, manufactures, and markets pharmaceuticals for central nervous system (“CNS”) disorders. According to the complaint, Anavex’s primary product is blarcamesine and Anavex sponsored the “Excellence” Phase II/Phase III study to investigate blarcamesine as a treatment for pediatric Rett syndrome patients.
The Anavex class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that defendants misled investors by providing a materially flawed and inaccurate impression of Anavex’s research program and of blarcamesine’s actual likelihood of success in the Rett syndrome trials.
The Anavex class action lawsuit further alleges that on January 2, 2024, Anavex announced the Excellence study results and in doing so revealed that Anavex used the “MMRM” method – a statistical method not previously used by Anavex 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 Anavex stock fell more than 35%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Anavex stock during the Class Period to seek appointment as lead plaintiff in the Anavex class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Anavex class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Anavex class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Anavex class action lawsuit.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm was ranked #1 on the ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller topped the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.