Important Information for Geron Corporation Securities Holders: Class Action Lawsuit Deadline Approaching
On April 3, 2025, the law firm of Robbins Geller Rudman & Dowd LLP announced that investors who purchased or acquired Geron Corporation (GERN) securities between February 28, 2024, and February 25, 2025, have until May 12, 2025, to seek appointment as lead plaintiff in a class action lawsuit. The lawsuit, captioned Dabestani v. Geron Corporation et al., alleges that the Company and certain of its executives violated the Securities Exchange Act of 1934.
Details of the Class Action Lawsuit
The complaint alleges that during the Class Period, Geron Corporation and its executives made false and misleading statements regarding the Company’s financial condition and business prospects. Specifically, the lawsuit alleges that the Company failed to disclose: (1) that its lead product candidate, imetelstat, was unlikely to receive regulatory approval due to safety concerns; (2) that the Company was experiencing delays in its clinical trials; and (3) that the Company’s financial statements were materially misstated.
Impact on Individual Investors
If you purchased or acquired Geron Corporation securities during the Class Period and suffered losses as a result, you may be able to recover your damages. As a lead plaintiff, you may also be eligible for certain benefits, including a seat at the table in important decision-making and potential future recoveries.
- To be eligible to participate in the class action, you must have purchased or acquired Geron Corporation securities during the Class Period.
- You must also have suffered losses as a result of the alleged fraud.
- To be appointed as lead plaintiff, you must meet certain requirements, including having the largest financial loss and being willing and able to serve as the representative of the class.
Impact on the World
The outcome of this class action lawsuit could have significant implications for the biotech industry as a whole. If the allegations are proven true, it could lead to increased scrutiny of other companies in the industry and potentially lead to stricter regulations regarding clinical trial reporting and financial disclosures.
Additionally, the outcome of this lawsuit could have a ripple effect on investor confidence in the biotech sector. If Geron Corporation is found to have engaged in fraudulent activity, it could discourage investors from investing in other biotech companies, potentially leading to a decrease in valuations and a decrease in research and development funding.
Conclusion
If you purchased or acquired Geron Corporation securities during the Class Period and suffered losses as a result, it is important that you take action. The deadline to seek appointment as lead plaintiff in the class action lawsuit is May 12, 2025. Contact the law firm of Robbins Geller Rudman & Dowd LLP for more information and to discuss your potential recovery.
Regardless of whether you choose to participate in the class action, it is important for all investors to stay informed about the developments in this case. The outcome could have significant implications for the biotech industry and investor confidence in the sector.
