Portnoy Law Firm Announces Class Action on Behalf of Anavex Life Sciences Corp. Investors

LOS ANGELES, Oct. 05, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Anavex Life Sciences Corp., (“Anavex” or the "Company") (NASDAQ: AVXL) investors of a class action on behalf of investors that bought securities between November 26, 2025 and August 28, 2026, inclusive (the “Class Period”). Anavex investors have until November 30, 2026 to file a lead plaintiff motion.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/anavex-life-sciences-corp. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

The Anavex class action complaint asserts that Defendants distributed false and misleading statements and omitted critical information throughout the Class Period, failing to reveal that: (i) Anavex suffered from deficient internal control systems; (ii) the company minimized its exposure to potential regulatory hurdles stemming from improper actions by former Chief Executive Officer Christopher Missling; and (iii) consequently, Defendants' public representations regarding Anavex's business model, ongoing operations, and future growth lacked a sound foundation and were materially misleading during all relevant periods.

On May 6, 2026, Anavex submitted a Form 8-K Current Report to the U.S. Securities and Exchange Commission ("SEC"), announcing that on April 30, 2026, an independent Special Committee of its Board of Directors ousted Chief Executive Officer Christopher Missling, PhD "for Cause," terminating his agreement immediately based on conduct conflicting with internal company standards. Following this filing, Anavex shares dropped nearly 1%, as detailed in the action.

Subsequent post-market disclosures on May 11, 2026, showed Anavex filing a Form 12b-25 Notice of Late Filing with the SEC, explaining its inability to submit its Quarterly Report on Form 10-Q for the quarter ending March 31, 2026, on time due to an internal probe into issues surrounding Dr. Missling's termination. Prompted by this notice, Anavex's share value fell almost 6%, according to the lawsuit.

Later, on August 28, 2026, during post-market hours, Anavex submitted an amended Form 10-K/A Annual Report for the fiscal year ended September 30, 2025. The amendment disclosed that the Special Committee's inquiry led management and the Board's Audit Committee to determine that a material weakness in internal control over financial reporting existed as of September 30, 2025, rendering its broader disclosure controls and procedures ineffective as of that date. Concurrently, the firm filed delayed quarterly reports for the periods ending March 31, 2026, and June 30, 2026, confirming that management found its internal financial reporting controls and disclosure procedures ineffective across multiple quarters—specifically September 30, 2025, December 31, 2025, March 31, 2026, and June 30, 2026—in the wake of the former CEO's April 2026 dismissal. Upon these disclosures, Anavex stock dropped over 6%, as alleged in the complaint.

The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA, NY and TX Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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