Geron(US:GERN) Prnewswire·2025-04-03 09:45Core Viewpoint - Geron Corporation is facing a class action lawsuit due to allegations of misleading statements regarding the growth potential of its drug Rytelo (imetelstat), leading to a significant drop in stock price after disappointing financial results were announced [2][4]. Summary by Sections Class Action Details - The class period for the lawsuit is from February 28, 2024, to February 25, 2025 [2]. - Allegations include that Geron provided investors with overly optimistic expectations about Rytelo's market potential while downplaying risks associated with its monitoring requirements and competition [2]. Financial Impact - On February 26, 2025, Geron reported that Rytelo's growth had flattened, attributing this to seasonality, competition, lack of awareness, and monitoring burdens [2]. - Following this announcement, Geron's stock price plummeted from $2.37 per share on February 25, 2025, to $1.61 per share on February 26, 2025, marking a decline of approximately 32.07% in one day [2]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by May 12, 2025, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. Law Firm Background - The Gross Law Firm specializes in class action lawsuits and aims to protect investors from deceit and fraud [4]. - The firm emphasizes the importance of responsible business practices and seeks recovery for investors affected by misleading statements [4].