The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Geron Corp. (GERN)
January 30 2020 - 9:00AM
Business Wire
The Law Offices of Frank R. Cruz reminds investors of the
upcoming March 23, 2020 deadline to file a lead plaintiff
motion in the class action filed on behalf of Geron Corporation
(“Geron” or the “Company”) (NASDAQ: GERN) investors who purchased
securities between March 19, 2018 and September 26, 2018,
inclusive (the “Class Period”).
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.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased or otherwise acquired Geron securities during
the Class Period, you may move the Court no later than March 23,
2020 to request appointment as lead plaintiff in this putative
class action lawsuit. To be a member of the class action 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
action. If you wish to learn more about this class action, or if
you have any questions concerning this announcement or your rights
or interests with respect to the pending class action lawsuit,
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/20200130005286/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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