The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Annovis Bio, Inc. (NYSE: ANVS) who purchased shares between May 21, 2021 and July 28, 2021. The action, which was filed in the United States District Court for the Eastern District of Pennsylvania, alleges that the Company violated federal securities laws.
In particular, the Annovis Bio lawsuit alleges that (1) Annovis’s ANVS401 (Posiphen), an orally administrated drug which purportedly inhibited the synthesis of neurotoxic proteins that are the main cause of neurodegeneration, did not show statistically significant results across two patient populations as to factors such as orientation, judgement, and problem solving; and (2) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until October 18, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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