Cases
Genocea Biosciences, Inc. (NASDAQ: GNCA)
Securities Class Action
Overview
Overview
- Date:
- 11/20/2017
- Company Name:
- Genocea Biosciences, Inc.
- Stock Symbol:
- GNCA
- Class Period:
- FROM 8/4/2016 TO 9/25/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Massachusetts
NEW YORK, November 20, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Genocea Biosciences, Inc. (NASDAQ: GNCA) securities between August 4, 2016 and September 25, 2017 (the “Class Period”). Investors have until January 2, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
Genocea is a biopharmaceutical company that discovers and develops vaccines and immunotherapies. During the Class Period, the Company's lead product candidate was GEN-003, a genital herpes immunotherapy product.
According to the complaint, Defendants violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission ("SEC"). Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's finances were insufficient to support Phase 3 trials of GEN-003; (ii) accordingly, Genocea had overstated the prospects for GEN-003; and (iii) as a result of the foregoing, Genocea's public statements were materially false and misleading at all relevant times.
On September 25, 2017, after the market closed, Genocea disclosed that it was halting spending and activities on GEN-003 and exploring strategic alternatives for the drug. The Company also announced that it was cutting 40% of its workforce.
On this news, the Company's share price fell $4.08, or 76.5%, to close at $1.25 on September 26, 2017.
If you purchased or otherwise acquired Genocea securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
Genocea is a biopharmaceutical company that discovers and develops vaccines and immunotherapies. During the Class Period, the Company's lead product candidate was GEN-003, a genital herpes immunotherapy product.
According to the complaint, Defendants violated provisions of the Exchange Act by issuing false and misleading statements to investors, including in filings with the U.S. Securities and Exchange Commission ("SEC"). Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's finances were insufficient to support Phase 3 trials of GEN-003; (ii) accordingly, Genocea had overstated the prospects for GEN-003; and (iii) as a result of the foregoing, Genocea's public statements were materially false and misleading at all relevant times.
On September 25, 2017, after the market closed, Genocea disclosed that it was halting spending and activities on GEN-003 and exploring strategic alternatives for the drug. The Company also announced that it was cutting 40% of its workforce.
On this news, the Company's share price fell $4.08, or 76.5%, to close at $1.25 on September 26, 2017.
If you purchased or otherwise acquired Genocea securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.