Rocket Pharmaceuticals(US:RCKT) GlobeNewswire News Roomยท2025-07-01 17:48Core Viewpoint - Rocket Pharmaceuticals, Inc. is facing a class action lawsuit due to a significant drop in stock price following the FDA's clinical hold on its RP-A501 treatment trial after a patient death, which was not disclosed until after the event occurred [2][3][4]. Group 1: Company Background - Rocket Pharmaceuticals, Inc. is involved in developing treatments for rare diseases, specifically focusing on Danon disease with its RP-A501 treatment [2]. Group 2: Incident Details - On May 27, 2025, Rocket disclosed that the FDA had placed a clinical hold on its Phase 2 pivotal trial of RP-A501 after a patient death occurred following an undisclosed protocol amendment [2][4]. - The stock price of Rocket fell by $3.94, or 62.8%, closing at $2.33 per share on the same day [3]. Group 3: Lawsuit Allegations - The class action lawsuit alleges that Rocket made materially false and misleading statements and failed to disclose adverse facts about its business and operations during the class period [4]. - Specific allegations include that Rocket was aware of the risks of serious adverse events, including participant deaths, and did not inform shareholders about a critical protocol amendment involving a new immunomodulatory agent [4].