Geron Investor Alert: March 23, 2020 Filing Deadline in Class Action – Contact Lieff Cabraser
February 06 2020 - 9:00AM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been filed on behalf of
investors who purchased shares of the common stock of Geron
Corporation (“Geron” or the “Company”) (NASDAQ: GERN) between March
19, 2018 and September 26, 2018, inclusive (the “Class
Period”).
If you purchased shares of the common stock of Geron during the
Class Period, you may move the Court for appointment as lead
plaintiff by no later than March 23, 2020. A lead plaintiff is a
representative party who acts on behalf of other class members in
directing the litigation. Your share of any recovery in the actions
will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or
other attorneys, as your counsel in the action.
Geron investors who wish to learn more about the litigation and
how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Geron, incorporated and headquartered in Menlo Park, California,
is a biopharmaceutical company.
The complaint alleges that throughout the Class Period,
Defendants misled investors regarding the results of a clinical
study of a bone cancer treatment drug named imetelstat, and, as a
result, Defendants’ statements about Geron’s business and prospects
were materially false and misleading. The study, named “IMbark,”
was designed to evaluate whether imetelstat benefited patients
diagnosed with myelofibrosis cancer. Geron developed imetelstat in
partnership with Janssen Biotech, Inc. (“Janssen”).
The truth about Defendants’ fraudulent scheme began to emerge on
March 27, 2018 when a biotechnology sector journalist published an
article claiming Geron’s and its CEO’s prior statements to
investors that imetelstat improved myelofibrosis patients’ survival
rate were materially false and misleading. Following this news, the
price of Geron stock, which had closed at $5.98 per share on March
26, 2018, fell 29% over the next two days to close at $4.23 per
share on March 28, 2018.
On September 27, 2018, Geron announced disappointing results
from the IMbark study showing that patients had shown only 10%
spleen volume reduction and only a 32% reduction in symptom
response rate. In addition, Geron disclosed that Janssen had ended
its partnership with Geron for the development of imetelstat. In
response to this news, Geron’s stock price plummeted from $6.23 per
share to $2.31 per share the next day, a decrease of over 62%.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, and Nashville, is a nationally recognized law
firm committed to advancing the rights of investors and promoting
corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” Benchmark Litigation has named
Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
https://www.lieffcabraser.com/.
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/20200206005126/en/
Sharon M. Lee Lieff Cabraser Heimann & Bernstein, LLP
Telephone: 1-800-541-7358
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