September 1, 2015 (Shareholders Foundation) - An investor in NASDAQ:GERN shares filed a lawsuit against certain of Geron over alleged breaches of fiduciary duties that caused damages to the company and its stockholders.
The plaintiff claims that defendants failed to side effects of its sole product, a cancer drug, and shares of Geron Corporation (NASDAQ:GERN) declined from $4.40 to $1.69 when the news came out.
On March 12, 2014, Geron Corporation (NASDAQ: GERN) announced that the company has received verbal notice from the U.S. Food and Drug Administration (“FDA”) that its Investigational New Drug “(IND”) application for imetelstat has been placed on full clinical hold, affecting all ongoing company-sponsored clinical trial.
On March 14, 2014 a lawsuit was filed against Geron over alleged Securities Laws Violations. the plaintiff claims that between June 16, 2013, and March 11, 2014, Geron Corporation allegedly omitted to disclose material facts showing imetelstat's poor prospects, including that 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 and that there was a potential risk of chronic liver injury following long-term exposure to imetelstat.
Shares of Geron Corporation (NASDAQ:GERN) declined from as high as $5.86 per share in late 2013 to as low as $1.80 per share in May 2014.