Anavex President’s Concealment Cost Company Millions, Suit Says

Anavex Life Sciences Corp.'s Chief Executive Officer Christopher Missling and company directors were hit with a shareholder derivative lawsuit alleging they concealed from investors that clinical trials used different measures to assess its treatment for a neurodevelopmental disorder.

When the concealment was discovered, plaintiff and shareholder Denise Deangelis alleges, it caused the value of the company’s stock to drop, triggering securities class actions.

As a result of the defendants’ misconduct, Anavex “has lost and expended, and will continue to lose and expend, many millions of dollars,” including legal fees, costs, and payments to satisfy judgments in securities class actions, ...