Attention Geron Corporation Investors: Geron Misled Investors According to a
Recently Filed Class Action
SAN DIEGO and MENLO PARK, Calif., March 24, 2014
SAN DIEGO and MENLO PARK, Calif., March 24, 2014 /PRNewswire/ --Shareholder
rights law firm Robbins Arroyo LLP announces that an investor of Geron
Corporation (NASDQ: GERN) has filed a federal securities fraud class action
complaint in the U.S. District Court for the Northern District of California.
The complaint alleges that the company and certain of its officers and
directors violated the Securities and Exchange Act of 1934 between June 16,
2013 and March 11, 2014 (the "Class Period"). Geron is a clinical stage
biopharmaceutical company developing a telomerase inhibitor, imetelstat, in
hematologic myeloid malignanciesis.
Robbins Arroyo LLP. (PRNewsFoto/Robbins Arroyo LLP)
Geron Accused of Failing to Disclose Risks Associated with Imetelstat
According to the complaint, shares of Geron fell $2.71 or nearly 61%, to close
at $1.69 per share on March 12, 2014, following an announcement by the company
that it received notice from the U.S. Food and Drug Administration that its
Investigational New Drug application for Imetelstat had been placed on full
clinical hold. According to the press release, the FDA's notice resulted from
"the occurrence of persistent low-grade liver function test (LFT)
abnormalities observed in the Phase 2 study of imetelstat in ET/PV patients
and the potential risk of chronic liver injury following long-term exposure to
imetelstat." Geron received news of the full clinical hold in the form of a
verbal notice from the FDA, which affects all active company-sponsored
The complaint further alleges that Geron failed to disclose to investors the
persistent LFT abnormalities observed in the Phase 2 study and the potential
risk of chronic liver injury associated with long-term exposure to imetelstat.
As a result, Geron statements regarding financial performance were materially
false and misleading throughout the Class Period.
Geron Investors Are Encouraged to Contact Shareholder Rights Law Firm Robbins
If you invested in Geron and would like to discuss your shareholder rights,
please contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the information form on the firm's
shareholder rights blog:
Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising.Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP
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