NEW YORK, April 25, 2014 /PRNewswire/ -- Pomerantz LLP announces the filing of a class action lawsuit against Geron Corporation ("Geron" or the "Company") (NASDAQ: GERN) and certain of its officers. The class action, filed in United States District Court, Northern District of California and docketed under 14-cv-01424, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Geron between June 16, 2013 and March 11, 2014, both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Geron securities during the Class Period, you have until May 13, 2014, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Geron is a clinical stage biopharmaceutical company developing a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid malignancies.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company's business, operations, prospects and performance. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that persistent low-grade LFT abnormalities had been observed in the Phase 2 study of imetelstat in ET/PV patients; (2) that there was a potential risk of chronic liver injury following long-term exposure to imetelstat; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company and the prospects for imetelstat lacked any reasonable basis and/or were materially false and misleading at all relevant times.