NEW YORK, NY--(Marketwired - Mar 19, 2014) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Geron Corporation ("Geron" or the "Company") (NASDAQ: GERN) of the May 13, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Geron and certain executives.
A complaint has been filed on behalf of all persons who purchased Geron securities between June 16, 2013 and March 11, 2014, inclusive (the "Class Period") in the Northern District of California.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) persistent low-grade liver function test (LFT) abnormalities were observed in the Phase 2 study of imetelstat, Geron's sole product candidate; and (ii) the potential danger of chronic injury to the liver existed for patients with long-term exposure to imetelstat.
On March 12, 2014, the Company announced that it has received verbal notice from the FDA that its investigational new drug application for imetelstat had been place on full clinical hold, which affects all ongoing company-sponsored clinical trials.
Following this news, the Company's stock declined $2.71 per share, or over 61%, to close at $1.69 per share on March 12, 2014.
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If you invested in Geron stock or options between June 16, 2013 and March 11, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/GERN. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Geron's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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