Goldman Scarlato Karon & Penny, P.C. is investigating potential claims on behalf of investors who purchased Geron Corp. (“Geron” or the “Company”) (NASDAQ: GERN) stock between June 16, 2013 and March 11, 2014, inclusive (the “Class Period”), including investors who purchased shares of Geron common stock in the Company’s January 30, 2014 secondary public offering.
The investigation concerns whether Geron and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and provisions of the Securities Act of 1933, in connection with statements regarding prospects for imetelstat, a cancer drug the Company was developing.
Specifically, the Firm is investigating the veracity of statements made by or in the name of the Company while Phase 2 clinical studies for imetelstat were underway, in light of certain abnormalities experienced by patients taking part in the study. On March 12, 2014, Geron announced that the U.S. Food and Drug Administration (“FDA”) put a full clinical hold on the study. The FDA cited the incidence of chronic liver injury among participants in the study and its concerns about whether liver abnormities caused by imetelstat were reversible. On this news, Geron’s shares dropped 61 percent, erasing more than $400 million in market value.
What You May DoIf you have information that would assist the Firm in its investigation or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail us at email@example.com or call us at (484) 580-8740. The Firm also encourages anyone with information regarding Geron’s alleged conduct during the period in question to contact the Firm, including former employees, shareholders, and others. About Goldman Scarlato Karon & Penny, P.C. The Firm prosecutes securities fraud, consumer fraud, price-fixing, employment class actions, and shareholder-derivative actions throughout the U.S. The Firm’s lawyers have recovered hundreds of millions of dollars on behalf of consumers, investors, and businesses.