COMPANY |
Geron Corporation |
COURT |
United States District Court for the Northern District of California |
CASE NUMBER |
20-cv-00547 |
JUDGE |
The Honorable William Haskell Alsup |
CLASS PERIOD |
March 19, 2018 – September 26, 2018 |
SECURITY TYPE |
Common Stock |
Case Background:
On January 23, 2020, the initial complaint in this securities class action was filed against Geron Corporation (“Geron” or the “Company”), and certain of Geron’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all persons who purchased or otherwise acquired Geron common stock between March 19, 2018 and September 26, 2018, (“Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants misled investors regarding a drug called imetelstat, which was intended to treat certain cancers that occur in bone marrow. Specifically, the complaint alleges that Defendants: (1) misled investors about the results of a clinical drug study of imetelstat called IMbark; and (2) as a result, Defendants' statements about Geron's business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.
Current Status of Case:
On October 22, 2020, Lead Plaintiffs filed an amended consolidated complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on November 23, 2020. On April 12, 2021, the Court entered an Order granting in part and denying in part Defendants’ Motion to Dismiss. On September 2, 2022, Plaintiffs filed a Motion for Preliminary Approval of Proposed Class Action Settlement. On October 13, 2022, a Motion Hearing was held and the Court preliminarily approved the proposed settlement and scheduled a Final Approval Hearing for March 30, 2023.
The deadline to file a claim is February 16, 2023. You may find additional information regarding the terms of the settlement and claim filing process at www.geronsecuritieslitigation.com or by calling Epiq Class Action & Claims Solutions, Inc., at 1-844-754-5537.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.