Geron Corporation (NASDAQ: GERN) Investor Securities Class Action Lawsuit 01/23/2020

If you purchased a significant amount of shares of Geron Corporation (NASDAQ: GERN) between March 19, 2018 and September 26, 2018, and / or if you purchased any NASDAQ: GERN shares prior to March 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 23, 2020. NASDAQ: GERN investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Geron
Case Name: 
Geron Shareholder Class Action Lawsuit 01/23/2020
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: GERN
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/23/2020
Class Period Begin: 
03/19/2018
Class Period End: 
09/26/2018
Court of Filing: 
U.S. District Court for the Northern District of California
Deadline To File for Lead: 
03/23/2020
Summary: 

An investor in shares of Geron Corporation (NASDAQ: GERN) filed a lawsuit in the U.S. District Court for the District Court for the Northern District of California over alleged violations of Federal Securities Laws by Geron Corporation in connection with certain allegedly false and misleading statements made between March 19, 2018 and September 26, 2018.

Menlo Park, CA based Geron Corporation, a clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for hematologic myeloid malignancies. Geron Corporation reported that its annual Total Revenue rose from $1.065 million in 2017 to $1.066 million in 2018 and that its Net Loss declined from $27.91 million in 2017 to $27.01 million in 2018.

Geron Corporation was developing imetelstat in partnership with Janssen Biotech Inc. ("Janssen"), a division of Johnson & Johnson. Imetelstat was intended to treat certain cancers that occur in bone marrow, and the IMbark study was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis.
On September 27, 2018, Geron Corporation announced that patients in the IMbark study had shown only a 10% spleen response rate and a 32% symptom response rate. The Company also announced that Janssen had terminated its partnership with Geron Corporation for the development of imetelstat.

Shares of Geron Corporation (NASDAQ: GERN) declined from $6.08 per share on September 3, 2018 to as low as $0.98 per share on December 17, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Geron Corporation (NASDAQ: GERN) common shares between March 19, 2018 and September 26, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 19, 2018 and September 26, 2018, the defendants: misled investors about the results of a clinical drug study of imetelstat called IMbark; and that as a result, defendants' statements about Geron's business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.