Anavex Life Sciences Corp ("Anavex" or the Company) is an American biopharmaceutical company that develops therapeutics designed to target chronic central nervous system conditions.

According to the law firm press release, the Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Anavex had used a paid stock promoter to artificially inflate the Company’s share price; and (ii) as a result of the foregoing, Anavex’s public statements were materially false and misleading at all relevant times.

On April 5, 2016, the Court issued an Order appointing Lead Plaintiff and Lead Counsel. Lead Plaintiff filed an amended Complaint on May 13.

On December 29, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Judgment in favor of Defendants was entered.