(GlobeNewswire Via Acquire Media NewsEdge) NEW YORK, May 6, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Geron Corporation ("Geron" or the "Company") (Nasdaq:GERN) common stock between June 16, 2013 to March 11, 2014.
The complaint alleges that Geron misrepresented and/or failed to disclose that: (a) persistent low-grade liver function test abnormalities had been observed in the Phase 2 study of its drug imetelstat in essential thrombocythemia or polycythemia vera patients; (b) there was a high risk of potential chronic liver injury following long-term exposure to the drug, and (c) as a result of the foregoing, defendants' positive statements about the prospects for imetelstat lacked a reasonable basic and/or were materially false and misleading.
On March 12, 2014, the Company announced it had received a verbal notice from the U.S. Food and Drug Administration ("FDA") that its Investigational New Drug (IND) application for imetelstat had been placed on full clinical hold. On this news, shares of Geron stock plunged over 60% to close at $1.69 per share, on extremely heavy volume.
If you suffered a loss in Geron you have until May 13, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/geron-gern.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
Source: Levi & Korsinsky, LLP
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