Geron(US:GERN) Prnewswire·2025-04-21 09:45Core Points - Geron Corporation is facing a class action lawsuit due to allegations of misleading statements regarding the growth potential of its drug Rytelo (imetelstat) [2] - The lawsuit claims that Geron downplayed risks associated with Rytelo, including monitoring requirements and competition, leading to a significant drop in stock price after disappointing financial results were announced [2] - The stock price fell approximately 32.07% from $2.37 to $1.61 per share in one day following the announcement of flattened growth for Rytelo [2] Summary by Sections Class Period and Allegations - 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 minimizing associated risks [2] Financial Impact - On February 26, 2025, Geron reported that Rytelo's growth had flattened, attributing this to seasonality, competition, and lack of awareness [2] - The announcement led to a dramatic decline in Geron's stock price, highlighting the financial repercussions of the alleged misleading statements [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 Information - The Gross Law Firm is representing the shareholders and is recognized for its commitment to protecting investor rights against fraudulent practices [4] - The firm aims to recover losses incurred by investors due to misleading statements from companies [4]