The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Geron Corporation (“Geron” or the “Company”) (NASDAQ: GERN) common stock between March 19, 2018 and September 26, 2018, inclusive (the “Class Period”). Geron investors have until March 23, 2020 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On March 27, 2018, STAT published a report revealing that the Company’s recent stock performance was due to “flimsy” claims in connection to the efficacy of imetelstat, Geron’s experimental myelofibrosis treatment. STAT stated that the available data for imetelstat undercuts Geron’s representations as to the drug’s efficacy.
On this news, Geron’s share price fell $1.75, or over 29%, over two consecutive trading sessions to close at $4.23 per share on March 27, 2018, thereby injuring investors.
Then, on September 27, 2018, Geron disclosed its Phase 2 study results for imetelstat failed to meet its primary efficacy endpoints.
On this news, Geron’s share price fell $3.92, or over 62%, to close at $2.31 per share on September 27, 2018, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company had misled investors about the clinical study results for imetelstat; and (2) that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased Geron securities during the Class Period, you may move the Court no later than March 23, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Geron securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to email@example.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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