#United States #New York #Gross Law Firm #Geron Corporation #Rytelo

Class Action Lawsuit Filed Against Geron Corporation

On March 24, 2025, The Gross Law Firm announced that a class action lawsuit has been initiated against Geron Corporation (NASDAQ: GERN). This action arises from significant losses incurred by shareholders who purchased stock during the designated class period, which spans from June 7, 2024, to February 25, 2025. The firm is reaching out to these shareholders to explore their potential involvement in this case and possible appointment as lead plaintiff.

Background of the Case

The allegations outlined in the complaint focus on statements made by Geron regarding their drug, Rytelo (imetelstat). Specifically, the lawsuit claims that Geron executives provided investors with overly optimistic projections concerning Rytelo’s market performance and growth potential. According to the complaint, Geron expressed confidence in its ability to meet the anticipated demand for the drug, positioning it as a vital treatment for patients ineligible for first-line erythropoiesis-stimulating agents (ESAs).

However, these optimistic forecasts allegedly downplayed the various risks involved, including the stringent monitoring requirements that come with Rytelo's administration, the competitive pressure from existing treatments, and the impacts of seasonal fluctuations on drug sales. Consequently, when Geron reported its financial results for the fourth quarter of fiscal 2024 on February 26, 2025, indicating a significant slowdown in Rytelo’s growth due to these very challenges, the stock price plummeted.

On February 25, 2025, shares closed at $2.37; the following day, they dropped to $1.61, marking an astonishing decline of approximately 32.07% in just one day.

Importance of Acting Quickly

The filing emphasizes the necessity for shareholders who purchased GERN shares during the outlined period to act swiftly. The deadline to participate as a lead plaintiff in this class action is set for May 12, 2025. By registering, shareholders will not incur any costs and will be enrolled in a monitoring system to keep them updated on the case's progress.

Why Choose The Gross Law Firm?

The Gross Law Firm is renowned nationally for advocating in class action lawsuits, especially those dealing with securities fraud. Their commitment to protecting the rights and interests of investors is well-recognized, aiming to ensure that corporations adhere to honest and responsible business practices. In cases where misleading or fraudulent information has led to financial losses for shareholders, the firm seeks to reclaim those losses through legal means.

In addition to the awareness raised by this class action, the firm encourages affected investors to evaluate their positions and consider their legal options thoroughly. By taking part in this lawsuit, they could contribute to holding Geron accountable for the financial harm inflicted on its investors.

For those interested in pursuing this matter further, more details are available through their dedicated registration portal.

Conclusion

As the case unfolds, investors are left with the hope of recovering their losses for relying on inaccurate information about Geron’s business prospects. This class action highlights the importance of transparency in corporate communications and signifies a step toward accountability for corporations that mislead their stakeholders. For any shareholders looking to protect their investments, prompt action is crucial.

For further inquiries, contact The Gross Law Firm at their New York office or visit their website for additional resources.