Johnson Fistel, LLP Announces That It Has Filed a Class Action Against Geron Corporation
SAN DIEGO- PRNewswire —January 23, 2020
Johnson Fistel, LLP announces that it has filed a class action lawsuit on behalf of all those who purchased or otherwise acquired Geron Corporation (“Geron”) (NASDAQ: GERN) common stock during the period between March 19, 2018 and September 26, 2018, inclusive (the “Class Period”). This action was filed in the United States District Court for the Northern District of California, case No. 3:20-cv-00547
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired Geron securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
If you wish to serve as lead plaintiff, you must move the Court no later 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
The complaint alleges that defendants: (1) misled investors about the results of a clinical drug study of imetelstat called IMbark; and (2) as a result, defendants’ statements about Geron’s business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Imetelstat was intended to treat certain cancers that occur in bone marrow, and the IMbark study was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis. Geron was developing imetelstat in partnership with Janssen Biotech Inc. (“Janssen”), a division of Johnson & Johnson. On September 27, 2018, Geron issued a press release stating that patients in the IMbark study had shown only a 10% spleen response rate and a 32% symptom response rate. The Company also announced that Janssen had terminated its partnership with Geron for the development of imetelstat.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Geron securities during the Class Period.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.