Geron(US:GERN) Prnewswireยท2025-04-18 09:45Core Viewpoint - Geron Corporation is facing a class action securities lawsuit due to alleged securities fraud related to the launch and growth potential of its drug Rytelo (imetelstat) between February 28, 2024, and February 25, 2025 [1][2]. Company Summary - The lawsuit claims that Geron misled investors regarding the expectations for Rytelo, emphasizing its potential market and downplaying risks associated with the drug's monitoring requirements and competition [2]. - Following the announcement of its fourth quarter financial results for fiscal 2024 on February 26, 2025, Geron reported that Rytelo's growth had stagnated, attributing this to seasonality, competition, and a lack of awareness [2]. - The stock price of Geron fell significantly 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]. Legal Proceedings - Investors who suffered losses during the specified timeframe 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 [3]. Firm Background - Levi & Korsinsky, LLP has a strong track record in securities litigation, having secured hundreds of millions of dollars 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].