AVXL Shareholder Alert: Investors With Losses May Seek to Lead the Class Action in Anavex Life Sciences Securities Lawsuit - Contact SueWallSt

Important Information Regarding Section 20(a) Individual Liability Claims. The lawsuit alleges former CEO Christopher Missling personally certified Anavex's controls as effective months before his termination for cause and the Company's later conclusion that those controls were not effective

NEW YORK, Oct. 06, 2026 (GLOBE NEWSWIRE) -- SueWallSt notifies investors in Anavex Life Sciences Corp. (NASDAQ: AVXL) that a securities class action pending in the Southern District of New York names former Chief Executive Officer Christopher Missling as an individual defendant facing CEO securities liability and Section 20(a) control person claims on behalf of shareholders who purchased between November 26, 2025 and August 28, 2026. Find out if you may be eligible to recover losses. You may also contact Joseph E. Levi, Esq. at jlevi@SueWallSt.com or (888) SueWallSt.

AVXL shares lost $0.18 per share, or 5.55%, after the May 11, 2026 late-filing notice tied to the review of matters surrounding the CEO's termination. They then shed another $0.19 per share, or 6.35%, after the August 28, 2026 amended annual report. The window to apply for lead plaintiff closes on November 30, 2026.

The Certifications Bearing the Former CEO's Signature

The complaint charges that Missling signed the Sarbanes-Oxley certifications attached to the 2025 Annual Report filed November 25, 2025, and the quarterly report filed February 9, 2026. These are the personal attestations that Sections 302 and 906 of the Act require of a company's principal officers. As averred, both were false because of the misconduct the lawsuit ties to his April 30, 2026 termination for cause by a special committee of independent directors.

In August 2026, amended filings concluded that Anavex's internal control over financial reporting and its disclosure controls were not effective as of September 30, 2025.

Alleged Control Person Liability

The pleading asserts that Missling's authority touched on the key areas now in dispute:

• Served as Chief Executive Officer, President, and director from the start of the Class Period until his April 30, 2026 termination for cause
• Participated directly in day-to-day operations at the highest levels and in overseeing internal controls
• Was allegedly involved in drafting, reviewing, or disseminating the challenged statements
• Was described in the amended annual report as historically the principal source and decision-maker for regulatory, clinical, and non-financial matters
• Joined the principal financial officer in deeming disclosure controls effective, though the Company later acknowledged it lacked formalized mechanisms to route regulatory and clinical information to that officer
  
  

Section 20(a) Control Person Claims Against the Former CEO

The securities action alleges that Missling, as a controlling person of Anavex, is jointly responsible for the Company's alleged violations of Section 10(b) and Rule 10b-5. In practical terms, this allows investors to pursue claims against the individual who allegedly directed the Company's conduct, not only against Anavex itself.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. The complaint alleges that the executive who certified Anavex's controls was later terminated for cause, and the Company subsequently concluded those same controls were not effective. Shareholders who relied on those certifications may wish to review their options." -- Joseph E. Levi, Esq.

Submit your information to learn more or call (888) SueWallSt.

WHY SUEWALLST: SueWallSt is powered by Levi & Korsinsky LLP. Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

Frequently Asked Questions About the AVXL Lawsuit

Q: What court was the AVXL class action filed in? A: The case was filed in the United States District Court for the Southern District of New York, governed by the Private Securities Litigation Reform Act of 1995.

Q: Who are the defendants named in the AVXL lawsuit? A: The complaint names Anavex Life Sciences Corp. and one individual defendant, the Company's former chief executive officer, Christopher Missling. According to the complaint, he signed SEC filings and certified financial disclosures under Sarbanes-Oxley.

Q: What is the AVXL class action lawsuit about? A: A securities class action has been filed against Anavex Life Sciences Corp. (NASDAQ: AVXL) alleging materially false and misleading statements between November 26, 2025 and August 28, 2026. Shares fell following disclosures related to the conduct and departure of the Company’s then-CEO, Christopher Missling, and the alleged related breakdown of the company’s internal controls.

Q: What documents do I need to submit my information? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: What happens after I submit my information? A: Your trading history will be reviewed at no cost for an initial assessment of your potential eligibility.

Q: What if I already sold my AVXL shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.

Q: Do I need to go to court or give testimony? A: No. The overwhelming majority of class members never appear in court or give depositions. If there is a settlement or recovery, eligible class members generally submit a claim form to seek their portion.

Q: What does it cost me to participate? A: There is no upfront cost to submit your information and review whether you may be eligible to recover. Should you choose to participate in the securities class action, such cases are generally handled on a contingency basis, with any attorneys' fees and expenses subject to court approval.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@SueWallSt.com
Tel: (888) SueWallSt
Fax: (212) 363-7171

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