Geron(US:GERN) Prnewswireยท2025-05-01 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][3]. Group 1: Allegations and Financial Impact - The class period for the lawsuit is from February 28, 2024, to February 25, 2025, during which Geron allegedly provided investors with overly optimistic expectations about Rytelo's market potential while downplaying associated risks [2]. - Following the announcement of fourth-quarter fiscal 2024 results on February 26, 2025, Geron reported that Rytelo's growth had flattened, attributing this to seasonality, competition, lack of awareness, and monitoring requirements, resulting in a stock price decline from $2.37 to $1.61, a drop of approximately 32.07% in one day [2]. Group 2: Next Steps for Shareholders - Shareholders who purchased GERN shares during the specified class period are encouraged to register for the class action by May 12, 2025, to potentially become lead plaintiffs and receive updates on the case [3]. - There is no cost or obligation for shareholders to participate in the case, and they will be enrolled in a portfolio monitoring system for status updates [3]. Group 3: Law Firm Background - The Gross Law Firm, which is handling the class action, is recognized for protecting investors' rights against deceit and fraud, aiming to hold companies accountable for misleading practices that inflate stock prices [4].