The inquiry centers on whether Anavex violated securities laws by misrepresenting its business health to the public. Investors who purchased securities in the company are currently being invited to join a potential class action lawsuit, which would operate under a contingency fee arrangement to recover financial losses.

The scrutiny follows a significant leadership shakeup at the company. On May 6, 2026, a special committee of the Anavex board of directors filed a report with the SEC confirming the immediate termination of Christopher Missling, PhD. The board cited specific conduct that breached company policy and subsequently requested his resignation from his seat on the board of directors. Rosen Law is now seeking to consolidate claims from affected investors to challenge the company's prior disclosures.