New Orleans, Louisiana–(Newsfile Corp. – August 26, 2021) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have until October 18, 2021 to file lead plaintiff applications in a securities class action lawsuit against Annovis Bio, Inc. (NYSE: ANVS), if they purchased the Company’s securities between May 21, 2021 and July 28, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased securities of Annovis and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-anvs/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 18, 2021.
About the Lawsuit
Annovis and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 28, 2021, post-market, the Company disclosed that interim clinical data from the Phase 2a trial of its lead compound, ANVS401 (Posiphen), failed to show statistically significant improvement compared to placebo in AD patients 25 days after treatment and, although patients showed cognitive improvements in certain areas, the results were not statistically significant.
On this news, shares of Annovis plummeted $65.94, or 60%, to close at $43.50 per share on July 29, 2021, on unusually heavy trading volume.
The case is Zhou v. Annovis Bio, Inc., No. 21-cv-03668.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94647