Geron(US:GERN) Prnewswireยท2025-05-05 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 [1][2]. Summary by Sections Allegations - The complaint alleges that Geron provided investors with overly optimistic expectations about Rytelo's launch and growth potential, while downplaying risks related to monitoring requirements, seasonality, and competition [1]. - Following the announcement of fourth-quarter financial results for fiscal 2024, which revealed that Rytelo's growth had flattened, Geron's stock price fell from $2.37 to $1.61, a decline of approximately 32.07% in one day [1]. Class Action Details - The class period for the lawsuit is defined as February 28, 2024, to February 25, 2025, and shareholders are encouraged to register for participation [2]. - The deadline for shareholders to seek lead plaintiff status is May 12, 2025, and there is no cost to participate in the case [2]. Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [3].