The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Geron Corp. Investors (GERN)
29 January 2020 - 1:00AM
Business Wire
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
info@frankcruzlaw.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.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200128005270/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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