Securities class action lawsuit for Geron Corporation underway

A law office recently announced that a class action lawsuit was filed against a biotechnology company after allegations of securities law violations surfaced.

Bronstein, Gewirtz and Grossman, LLC, noted that it filed the litigation against Geron Corporation in the U.S. District Court for the Northern District of California. This includes all shareholders who purchased stock in the company during the class period between June 16, 2013, and March 11, 2014.

Geron Corporation's executives allegedly violated federal securities laws for multiple reasons. The company either misled shareholders or did not inform them that their drug imetelstat had notable low-grade liver function test issues that surfaced during the second phase study of the drug. Also, the drug had a high risk of chronic livery injury for those who were exposed to the drug in the long-term.

The company noted on March 12, 2014, that the U.S. Food and Drug Administration put a hold on the clinical trials for the imetelstat drug. When this occurred, the company's stock dropped approximately 60 percent to $1.69 per share.

There has not yet been a class certified for the lawsuit. However, any shareholders who want to become lead plaintiff in the case need to contact the court by May 13, 2013, and submit all necessary paperwork. This position is not mandatory for those who want to remain an absent class member and collect in the event of a recovery decision.

It is possible to contact the law office in order to learn more about the lawsuit process, read the complaint or find out how this action will affect shareholders. Peretz Bronstein, as well as Eitan Kimelman, are available to field questions from stockholders. Both can be reached by email or telephone. Any shareholders who contact by email should provide the law firm with their telephone number and mailing address.

Second lawsuit announced
Another law office recently brought forth its own securities class action lawsuit against Geron Corporation, on behalf of shareholders.

The Rosen Law Firm, P.A., filed the lawsuit against the company for the same class period, for many of the aforementioned reasons.

It is also possible for shareholders to discuss related matters with this law firm. Both Jonathan Horne and Phillip Kim area available to speak about the lawsuit's parameters, and they can be reached by telephone or email. It is also possible to joint the lawsuit on the law office's website.