SAGE THERAPEUTICS INVESTIGATION INITIATED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Sage Therapeutics, Inc.
NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Apr 11, 2025--
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ('KSF'), announces that KSF has commenced an investigation into Sage Therapeutics, Inc. ('Sage' or 'the Company') (NasdaqGM: SAGE).
Sage is a biopharmaceutical company that develops and commercializes brain health medicines. On April 17, 2024, the Company disclosed that a Phase 2 study of its SAGE-718 product 'did not meet its primary endpoint of demonstrating statistically significant difference from baseline in participants treated with once-daily dalzanemdor [SAGE-718] versus placebo on the Wechsler Adult Intelligence Scale Fourth Edition-IV Coding Test score at Day 42,' and that, '[b]ased on the data, the Company does not plan any further development of [SAGE-718] in PD.' Then, on July 24, 2024, the Company disclosed that its SAGE-324 product failed a Phase 2 study as patients who received their drug did not show a statistically significant improvement on scales measuring tremors in their arms or activities of daily living, and that, '[g]iven these results, Sage and Biogen will close the ongoing open label safety study of SAGE-324 in ET and do not plan to conduct further clinical development of SAGE-324 in ET.'
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period in violation of federal securities laws, which remains ongoing.
KSF's investigation is focusing on whether Sage's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Sage shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ( [email protected] ), or visit https://www.ksfcounsel.com/cases/nasdaqgm-sage/ to learn more.
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. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20250411214366/en/
CONTACT: Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
KEYWORD: UNITED STATES NORTH AMERICA LOUISIANA NEW YORK
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Kahn Swick & Foti, LLC
Copyright Business Wire 2025.
PUB: 04/11/2025 10:50 PM/DISC: 04/11/2025 10:50 PM
http://www.businesswire.com/news/home/20250411214366/en
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