NEW YORK, March 17, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of all purchasers of the common stock of Geron Corporation (Nasdaq: GERN ) from June 16, 2013 and March 11, 2014, inclusive, seeking remedies under the federal securities laws.
To join the GERN class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Jonathan Horne, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or jhorne@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
GERN is a clinical stage company with only one drug in development – imetelstat – which is in Phase 2 trials. The Complaint alleges that between June 16, 2013, and March 11, 2014, Geron omitted to disclose material facts showing imetelstat's poor prospects, including that (1) 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 (2) there was a potential risk of chronic liver injury following long-term exposure to imetelstat.
On March 12, 2014, GERN announced that the Food and Drug Administration had verbally informed it that a clinical hold would be placed on imetelstat clinical trials, citing the LFT abnormalities and the potential risk of chronic liver injury. The FDA additionally is concerned that both may be irreversible.
That day, GERN's stock price fell $2.71, or 62%, on heavy volume, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 13, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Jonathan Horne, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or jhorne@rosenlegal.com .
The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.
Laurence Rosen, Esq. Phillip Kim, Esq. Jonathan Horne, Esq. The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 www.rosenlegal.com
