Important Information for Investors: Class Action Lawsuit Filed Against Geron Corporation
On March 13, 2025, Levi & Korsinsky, LLP issued a notice to all persons or entities who purchased or otherwise acquired securities of Geron Corporation (“Geron” or the “Company”) (NASDAQ: GERN) between June 7, 2024, and February 25, 2025. The notice pertains to a class action lawsuit filed against the Company, Reza Dabestani v. Geron Corporation.
Details of the Lawsuit
The complaint alleges that Geron and certain of its officers and directors violated the Securities Exchange Act of 1934 by making false and misleading statements regarding the Company’s business, operational, and financial results. Specifically, the lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that:
- Geron’s Imetelstat, a potential treatment for myelofibrosis, was unlikely to receive regulatory approval from the U.S. Food and Drug Administration (“FDA”) due to safety concerns;
- The Company’s clinical trial data for Imetelstat was manipulated or falsified;
- Geron lacked sufficient data to support the efficacy of Imetelstat;
- The Company’s financial statements were inaccurate and failed to reflect the true financial condition of Geron.
Impact on Individual Investors
If you purchased or otherwise acquired Geron securities during the specified period and suffered a loss, you may be entitled to compensation. The lawsuit aims to recover damages for investors’ losses. To be eligible for inclusion in the class, you must file a motion to serve as lead plaintiff by May 17, 2025. If you wish to serve as lead plaintiff, you must meet certain legal requirements and demonstrate a significant investment in Geron during the class period.
Impact on the World
The lawsuit against Geron could have significant implications for the biotech industry and investor confidence in clinical trials and regulatory approval processes. If the allegations are proven true, it may lead to increased scrutiny of other biotech companies and their clinical trials, potentially slowing down the development and approval of new treatments.
Conclusion
The class action lawsuit against Geron Corporation is a reminder of the importance of accurate and transparent reporting in the biotech industry. Investors who purchased Geron securities between June 7, 2024, and February 25, 2025, may be entitled to compensation if the allegations in the lawsuit are proven true. The lawsuit also highlights the importance of thoroughly researching a company before making investment decisions and the potential consequences of misrepresentation or manipulation of clinical trial data. Stay informed and consult with a financial advisor for more information.
