Case Page

 

Case Status:    SETTLED
On or around 07/21/2017 (Date of order of final judgment)

Filing Date: March 14, 2014

According to the law firm press release, Geron is a clinical stage biopharmaceutical company developing first-in-class therapies for cancer. The Company’s sole product candidate, imetelstat, is designed to inhibit cancer cell replication in hematologic myeloid malignancies such as myelofibrosis or acute myelogenous leukemia. The Complaint alleges that throughout the Class Period defendants misrepresented or failed to disclose that: (1) persistent low-grade liver function test (LFT) abnormalities had been observed in the Phase 2 study of imetelstat in essential thrombocythemia (ET) or polycythemia vera (PV) patients; (2) there was a potential risk of chronic liver injury following long-term exposure to imetelstat; and (3), as a result of the foregoing, defendants’ positive statements about the Company and the prospects for imetelstat lacked any reasonable basis and/or were materially false and misleading at all relevant times.

On March 12, 2014, Geron disclosed that it had received verbal notice from the U.S. Food and Drug Administration that Geron’s Investigational New Drug application for imetelstat has been placed on full clinical hold – an order to a trial sponsor to suspend an ongoing clinical trial or delay a proposed trial – affecting all ongoing company-sponsored clinical trials, and that the FDA expressed concern about whether the LFT abnormalities were reversible. As a result, Geron informed investors that the clinical hold would affect the remaining eight patients in the Company’s Phase 2 study in ET/PV and the remaining two patients in the company’s Phase 2 study in multiple myeloma. Also, the Company indicated that a planned Phase 2 clinical trial in myelofibrosis would likely be delayed due to the clinical hold.

On June 30, 2014, the Court issued an Order consolidating related actions, appointing lead plaintiff, and approving the selection of lead counsel. Lead plaintiff filed a consolidated and amended complaint on September 19.

The parties filed a Stipulation of Settlement on March 2, 2017. This Settlement was preliminarily approved on April 10. On July 21, 2017, the Court granted final approval of the Settlement and dismissed this case.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GERN
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 14-CV-01224
JUDGE: Hon. Charles R. Breyer
DATE FILED: 03/14/2014
CLASS PERIOD START: 06/16/2013
CLASS PERIOD END: 03/11/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 14-CV-01224
JUDGE: Hon. Charles R. Breyer
DATE FILED: 09/19/2014
CLASS PERIOD START: 12/10/2012
CLASS PERIOD END: 03/11/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (Los Angeles)
    10866 Wilshire Boulevard Suite 1470, Faruqi & Faruqi LLP (Los Angeles), CA 90067
    (424) 256-2884 (424) 256-2885 ·
No Document Title Filing Date