In an unusual and unexpected twist, the U.S. Department of Justice (DOJ) filed an “unopposed motion … to dismiss with prejudice” a June 2024 criminal indictment against a Cassava Sciences advisor after he and the clinical-stage biopharmaceutical company became the target of an apparent short-selling scheme that prompted government investigations.
The DOJ stated in its motion to dismiss the indictment that the decision was “in the interests of justice.” It was granted by the U.S. District Court for the District of Maryland Oct. 23. That same day, Cassava acknowledged the dismissal in a securities filing but did not add anything further.
