SAN DIEGO–(BUSINESS WIRE)–The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Geron Corporation (NASDAQ: GERN) securities between February 28, 2024 and February 25, 2025, both dates inclusive (the “Class Period”), have until May 12, 2025 to seek appointment as lead plaintiff of the Geron class action lawsuit. Captioned Dabestani v. Geron Corporation, No. 25-cv-02507 (N.D. Cal.), the Geron class action lawsuit charges Geron and certain of Geron’s top current and former executives with violations of the Securities Exchange Act of 1934. A subsequently filed complaint is captioned Potvin v. Geron Corporation, No. 25-cv-02563 (N.D. Cal.).
If you suffered substantial losses and wish to serve as lead plaintiff of the Geron class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-geron-corporation-class-action-lawsuit-gern.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Geron is a commercial-stage biopharmaceutical company that focuses on the development of therapeutic products for oncology. According to the complaint, Geron’s primary product is a telomerase inhibitor, imetelstat, which Geron sells under the brand name Rytelo.
The Geron class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to Geron’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (ii) in truth, Geron’s optimistic reports of Rytelo’s launch success and potential growth fell short of reality as the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than defendants had implied; and (iii) Rytelo lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting.
The Geron class action lawsuit further alleges that on February 26, 2025, Geron announced its financial results for the fourth quarter of fiscal year 2024, disclosing that Rytelo’s growth had flattened over the preceding months, attributing the diminished growth on seasonality, competition, lack of awareness for Rytelo, and the burden of the monitoring requirement necessary for the drug treatment. On this news, Geron’s stock price declined more than 32%, the complaint alleges.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Geron securities during the Class Period to seek appointment as lead plaintiff in the Geron class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Geron class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Geron class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Geron class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contacts
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
