NEW YORK, NY / ACCESSWIRE / December 27, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Genocea Bioscience, Inc. (''Genocea'' or the ''Company'') (GNCA) and certain of its officers, on behalf of a class who purchased or otherwise acquired Genocea securities between May 5, 2017 and September 25, 2017, both dates inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/gnca.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Genocea's finances were insufficient to support Phase 3 trials of GEN-003; (2) as a result, Genocea had overstated the prospects for GEN-003; and (3) consequently, Genocea's public statements were materially false and misleading at all relevant times.
On September 25, 2017, after market-hours, Genocea revealed that it was halting spending and activities on GEN-003 and exploring strategic alternatives for the drug, and that it was cutting 40% of its workforce. Following this news, Genocea stock dropped $4.08 per share, or 76.5%, to close at $1.25 on September 26, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: www.bgandg.com/gnca, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Genocea, you have until January 2, 2018 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC