Geron(US:GERN) Prnewswire·2025-03-18 09:45Core Viewpoint - Geron Corporation is facing a class action securities lawsuit due to alleged securities fraud related to the performance and market expectations of its drug Rytelo (imetelstat) between June 7, 2024, and February 25, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit aims to recover losses for investors who were negatively impacted by the defendants' misleading statements regarding Rytelo's launch and growth potential [1][2]. - Defendants allegedly downplayed risks associated with Rytelo, including the burden of weekly monitoring and competition, while expressing confidence in the drug's market potential [2]. - Following the announcement of Geron's fourth-quarter financial results for fiscal 2024, which revealed stagnant growth for Rytelo, the company's stock price plummeted approximately 32.07%, from $2.37 to $1.61 per share in one day [2]. Group 2: Next Steps for Investors - Investors who suffered losses during the specified period have until May 12, 2025, to request appointment as lead plaintiff in the lawsuit [3]. - Participation in the lawsuit does not require any out-of-pocket costs for class members, and they may be entitled to compensation without financial obligation [3]. Group 3: Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions for shareholders over the past 20 years [4]. - The firm has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].