The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the U.S. District Court for the District of Massachusetts on behalf of investors who purchased Genocea Biosciences, Inc. (NASDAQ : GNCA) securities between August 4, 2016 and September 25, 2017.
According to the complaint, throughout the Class Period 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, 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.
If you suffered a loss in Genocea Biosciences, Inc. 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.
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