Levi & Korsinsky Alerts Geron Investors of Class Action Lawsuit – SiouxlandProud
Investors in Geron are facing a pending class-action lawsuit with a lead plaintiff deadline of May 12, 2025, according to a recent reminder from Levi & Korsinsky. The lawsuit has been filed on behalf of investors who purchased shares of Geron between March 19, 2018, and September 26, 2018. The legal action alleges that the company made false and misleading statements regarding the results of Imetelstat – their sole product in development – which caused their stock price to inflate.
Imetelstat is a telomerase inhibitor that Geron was developing for the treatment of myelodysplastic syndromes (MDS). The lawsuit claims that Geron misrepresented the results of their Phase 2 clinical trial for Imetelstat and failed to disclose adverse events experienced by some patients. These alleged misrepresentations caused Geron’s stock price to trade at artificially inflated levels during the class period.
Geron’s stock price plunged by nearly 70% in September 2018 after the company disclosed that it had received a written communication from the U.S. Food and Drug Administration (FDA) that placed a full clinical hold on the IMerge Phase 2/3 trial of Imetelstat in MDS. Following this announcement, several analysts downgraded Geron’s stock, citing concerns over the future prospects of Imetelstat and the company’s ability to recover from the setback.
As a result of the negative news and subsequent stock price decline, investors who purchased Geron shares during the class period suffered significant losses. The pending class-action lawsuit seeks to recover damages for these investors who were allegedly misled by the company’s statements regarding Imetelstat and its clinical trial results.
Investors who wish to participate in the class-action lawsuit must act before the lead plaintiff deadline of May 12, 2025. Those who purchased Geron shares between March 19, 2018, and September 26, 2018, may be eligible to join the lawsuit to potentially recover their losses. It is important for investors to seek legal counsel and understand their rights in this matter to determine if they qualify as a lead plaintiff in the case.
In conclusion, Geron investors are facing a pending class-action lawsuit due to allegations of false and misleading statements regarding their sole product in development, Imetelstat. The lawsuit claims that investors suffered losses as a result of these alleged misrepresentations, which caused Geron’s stock price to trade at artificially inflated levels. Investors who purchased Geron shares during the class period may be eligible to participate in the lawsuit and potentially recover damages for their losses. The lead plaintiff deadline for this case is May 12, 2025, and investors should seek legal counsel to understand their rights and determine if they qualify to join the legal action.
