NEW YORK, Nov. 7, 2017 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP
(www.kaplanfox.com) is investigating claims on behalf of investors
in Genocea Biosciences, Inc. ("Genocea" or the "Company") (NASDAQ:
GNCA). Genocea is a biopharmaceutical company developing
vaccines and immunotherapies.
Class action litigation has been filed in the United States
District Court for the District of Massachusetts against Genocea and certain
Company executives on behalf of investors who purchased or
otherwise acquired Genocea securities between May 5, 2017 and September
25, 2017, inclusive (the "Class"), alleging violations of
the Securities Exchange Act of 1934.
On September 25, 2017 after the
market closed, Genocea disclosed that it was halting spending and
activities on GEN-003, its lead product candidate, and exploring
strategic alternatives for the drug. The Company also
announced that it was cutting 40% of its workforce.
On September 26, 2017, the first
trading day following the news, Genocea's share price fell
$4.08 per share, or 76.5%, to close
at $1.25 per share on September 26, 2017.
The complaint alleges that throughout the Class Period, the
defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Further, the complaint alleges that defendants made
false and/or misleading statements and/or failed to disclose that
(i) the Company's finances were insufficient to support Phase 3
trials of GEN-003, (ii) accordingly, Genocea had overstated the
prospects for GEN-003, and (iii) as a result of the foregoing,
Genocea's public statements were materially false and misleading at
all relevant times.
If you are a member of the proposed Class, you may move the
court no later than January 2, 2018
to serve as a lead plaintiff for the purported class. You
need not seek to become a lead plaintiff in order to share in any
possible recovery. If you would like to discuss the complaint
or our investigation, please contact us by emailing
pmayer@kaplanfox.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP,
with offices in New York,
San Francisco, Los Angeles, Chicago and New
Jersey, has many years of experience in prosecuting investor
class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit
our website at www.kaplanfox.com. If you have any questions
about this Notice, the action, your rights, or your interests,
please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California
94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox &
Kilsheimer LLP