Anavex Life Sciences Corporation Class Action Lawsuit - AVXL

Company
Anavex Life Sciences Corporation (NASDAQ: AVXL)
Lead Plaintiff Deadline
May 13, 2024 (Expired)
Class Period
February 1, 2022 - January 1, 2024

Expired

Lead Plaintiff Deadline

May 13, 2024

Join the Anavex Life Sciences Corporation Class Action Lawsuit

Required Field

Required Field

Required Field

  • $1 - $1,000
  • $1001 - $10,000
  • $10,001 - $25,000
  • $25,001 - $50,000
  • $50,001 - $100,000
  • $100,001 - $250,000
  • $250,001 - $500,000
  • $500,000+

There is no cost or obligation for you to submit.

The submission of this form does not create an attorney-client relationship.

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  • Common Stock
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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

1.I have reviewed a complaint filed in the action.

2.I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.

3.I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.

4.My transaction(s) in which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.

5.Within the last 3 years,

6.I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

Are you US Citizen?

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Anavex Life Sciences Corporation. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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Allegations

The complaint alleges that on December 2, 2022, AVXL announced positive topline results from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral ANAVEX®2-73 (blarcamesine) for the treatment of mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) and mild AD (collectively known as early AD). ANAVEX®2-73 met the primary endpoints ADAS-Cog1 and ADCS-ADL2 and key secondary endpoint CDR-SB3 with statistically significant results. An analyst questioned the Company’s claim noting “there are several key factors that point us to believe the data is provocative, but not yet compelling, given the choice of statistical analyses and other trial design/conduct ‘complexifiers’.” Additionally, a biotech journalist commented on AVXL’s findings stating “[w]hat sets Anavex apart from all the other biotechs on my radar screen is its habit of shifting the goalposts on clinical trials…Anavex announced “positive” outcomes from studies of its drug called blarcamesine — except the results were derived from efficacy endpoints that were not part of the original study designs.” Following this news, AVXL’s stock price fell by $2.47 per share, or approximately 20% to close at $9.58. Further on January 3, 2024, AVXL announced that results from its Phase 2/3 EXCELLENCE clinical trial for its candidate ANAVEX®2-73 in pediatric patients with Rett syndrome failed to show statistical significance towards its primary endpoints. Biotech analysts commented that “the negative study outcome was never in doubt…Anavex is a serial dissembler of clinical trial results.” Following this news, AVXL’s stock price fell by $3.26 per share, or approximately 35%.

Eligibility

In order to be eligible to join the AVXL class action lawsuit, you must have incurred a loss on shares of Anavex Life Sciences purchased during the class period listed above.

Lead Plaintiff Deadline

If you suffered a loss in Anavex Life Sciences during the relevant time frame or pursuant to the relevant offering(s), you have until May 13, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

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