San Diego, CA -- (ReleaseWire) -- 05/07/2014 -- An investor, who purchased shares of Geron Corporation (NASDAQ:GERN), filed a lawsuit in the United States District Court for the Northern District of California over alleged violations of Federal Securities Laws by Geron in connection with certain allegedly false and misleading statements made between June 16, 2013 and March 11, 2014.
If you purchased a significant amount of shares of Geron Corporation (NASDAQ:GERN) between June 16, 2013 and March 11, 2014, and/or if you purchased NASDAQ:GERN shares in June 2013 or earlier and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 13, 2014. NASDAQ:GERN investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Geron Corporation (NASDAQ:GERN) between June 16, 2013 and March 11, 2014, that Geron Corporation and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that between June 16, 2013, and March 11, 2014, Geron Corporation allegedly omitted to disclose material facts showing imetelstat's poor prospects, including that persistent low-grade liver function test (LFT) abnormalities had been observed in the Phase 2 study of imetelstat in essential thrombocythemia (ET) or polycythemia vera (PV) patients and that there was a potential risk of chronic liver injury following long-term exposure to imetelstat.
On March 12, 2014, Geron Corporation (NASDAQ:GERN) announced that the company has received verbal notice from the U.S. Food and Drug Administration (“FDA”) that its Investigational New Drug “(IND”) application for imetelstat has been placed on full clinical hold, affecting all ongoing company-sponsored clinical trial. Shares of Geron Corporation (NASDAQ:GERN) dropped from $4.66 per share on March 11, 2014 to $1.40 per share on March 12, 2014.
Those who purchased shares of Geron Corporation (NASDAQ:GERN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego