NEW YORK--(BUSINESS WIRE)--
Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, has filed a class action against Genocea Biosciences, Inc. (“Genocea” or the “Company”) (NASDAQ:GNCA) and certain of its senior executives related to alleged violations of federal securities laws. If you purchased or otherwise acquired shares of Genocea common stock between May 5, 2017 and September 25, 2017, you are encouraged to contact a Scott+Scott attorney at (844) 818-6980 for additional information.
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.
The lawsuit alleges that the Company and certain executives issued 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.
What You Can Do
If you purchased Genocea common stock between May 5, 2017 and September 25, 2017, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at [email protected]. Investors have until January 2, 2018, to move for lead plaintiff.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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