Geron Corporation Class Action Lawsuit Alert
Levi & Korsinsky, LLP has issued a
strong reminder to investors in
Geron Corporation (NASDAQ: GERN) regarding a pending class action lawsuit. The firm is raising awareness about the lawsuit, aimed at representing individuals who might have suffered financial losses due to alleged securities fraud that transpired within a specific time frame, notably from
February 28, 2024, to February 25, 2025.
Background of the Case
The essence of the lawsuit revolves around the
misrepresentation of facts by the defendants concerning Geron’s primary drug,
Rytelo (imetelstat). According to the complaint, the statements made by the company included unwarranted optimism about the drug’s market potential, as well as minimizing significant risks associated with the drug's sales due to seasonality and existing competition. Investors were misled into believing that Geron was well-positioned to capitalize on a significant unmet need for Rytelo while overlooking the challenges that could impact its market performance.
On
February 26, 2025, Geron reported its financial results for the fourth quarter of fiscal 2024, revealing troubling news: the growth trajectory for Rytelo had stalled. The disappointment was linked to several factors, including competitive pressures, lack of public awareness of Rytelo, and the burden imposed by monitoring requirements needed for treatment.
The immediate fallout from this announcement was a sharp decline in the company's stock price, plummeting from
$2.37 per share on February 25 to
$1.61 the following day—a staggering drop of approximately
32.07% in just one day. This drastic change has left many investors scrambling to understand their rights and the potential for recovery of losses incurred during this tumultuous period.
What's at Stake?
The class action lawsuit aims to address these losses. Investors who believe they have been negatively impacted by these events are encouraged to step forward. The current deadline to be appointed as a lead plaintiff is
May 12, 2025. However, participation in the lawsuit does not obligate individuals to take on the lead role, and they may still recover losses as class members without incurring upfront costs or legal fees.
Levi & Korsinsky emphasizes that it has a longstanding record of securing compensation for shareholders and boasts a reputation within complex securities litigation. With over two decades of experience and awards that place them among the top securities litigation firms in the United States, they have proven capabilities in representing the interests of investors.
Contact Information
Those interested in joining the lawsuit or seeking more information can reach out to
Joseph E. Levi, Esq. directly via email at
[email protected] or by phone at
(212) 363-7500. The law firm is ready to assist potential class members at no cost, ensuring that the process remains accessible to those affected.
As the deadline approaches, investors are advised to act swiftly. The implications of this class action could be significant for many, with Levi & Korsinsky poised to advocate for their interests in pursuit of justice and recovery of their financial stakes against alleged wrongdoing by Geron Corporation.