NEW YORK, March 18, 2014 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a securities class action has been filed in the United States District Court for the Northern District of California on behalf of those who purchased shares of Geron Corporation. ("Geron" or the "Company") (NasdaqGS: GERN), during the period between June 16, 2013 and March 11, 2014, inclusive (the "Class Period").
The complaint charges Geron and certain of its executives with violations of federal securities laws. Specifically, the complaint alleges that Geron misrepresented and/or failed to disclose that: (i) persistent low-grade liver function test abnormalities had been observed in the Phase 2 study of its drug imetelstat in essential thrombocythemia or polycythemia vera patients; (ii) there was a high risk of potential chronic livery injury following long-term exposure to the drug, and (iii) as a result of the foregoing, defendants' positive statements about the prospects for imetelstat lacked a reasonable basic and/or were materially false and misleading.
On March 12, 2014, the Company announced it had received a verbal notice from the U.S. Food and Drug Administration ("FDA") that a clinical hold would be placed on imetelstat clinical trials.
On this news, shares of Geron fell over 60% to close at $1.69 per share.
Plaintiff seeks to recover damages on behalf of all Geron shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. May 13, 2014 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC