#United States #New York #Class Action #Geron Corporation #Rytelo

Class Action Lawsuit Filed Against Geron Corporation

On March 20, 2025, the Gross Law Firm announced a class action lawsuit against Geron Corporation, known by its NASDAQ ticker, GERN. This legal action comes as a response to significant losses suffered by investors following the recent disappointing financial performance related to Geron’s drug, Rytelo (imetelstat).

Background on the Class Action

The Gross Law Firm has urged shareholders of Geron who purchased shares during the designated class period, which spans from June 7, 2024, to February 25, 2025, to reach out concerning potential participation in the lawsuit. Importantly, becoming a lead plaintiff is not a prerequisite for obtaining recovery.

The crux of the allegations involves claims that the defendants misled investors about the prospects for Rytelo. Statements released by Geron suggested a high level of confidence regarding the drug's market potential and the company's plans to address the unmet medical needs of first-line ESA ineligible patients. However, these statements allegedly glossed over the challenges, including the burden of monitoring requirements and the competitive landscape that would ultimately hinder Rytelo's sales growth.

The Downturn: Price Decline

On February 26, 2025, Geron disclosed its fourth-quarter fiscal results for 2024, revealing that growth expectations for Rytelo had not been met. The company attributed this stagnation to several factors including seasonality, competition, and a general lack of awareness regarding the drug among healthcare providers. Following this announcement, Geron’s stock plummeted approximately 32.07%, dropping from $2.37 to $1.61 within a single trading day. This dramatic decline triggered concerns among shareholders and led to the initiation of the class action.

Call to Action for Investors

Investors who wish to join this action are encouraged to register their information to ensure they are included in updates throughout the lawsuit's lifecycle. The deadline for seeking lead plaintiff status is set for May 12, 2025, but investors may participate without facing any cost or obligation by simply registering their shares.

Counsel’s Commitment

The Gross Law Firm is recognized nationally for advocating investors' rights amid corporate malfeasance. Their mission is to confront entities that engage in deceitful practices that harm shareholder interests. By pursuing this legal action, the firm aims to hold Geron accountable and to restore investor confidence through responsible corporate conduct.

Conclusion

The upcoming months will be critical for Geron Corporation as this class action unfolds. Investors have a window of opportunity to participate in reclaiming their losses if they took part in Geron’s share offerings during the specified period. For more information or to register, shareholders can visit the Gross Law Firm's website and follow the appropriate channels to submit their claims. Understanding the actions taken now may lead to significant recoveries in the future and could serve as a warning to maintain integrity in corporate disclosures moving forward.