BCLI - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Brainstorm Cell Therapeutics Inc. (BCLI)

NEW YORK, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Brainstorm Cell Therapeutics Inc. (“Brainstorm Cell” or the “Company”) (NASDAQ: BCLI) securities between August 15, 2022 and September 27, 2023, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.

The Complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company downplayed the severity of the Food and Drug Administration’s (“FDA”) refusal to file letter; (2) the Company continued to conceal the risks associated with the submission of the biologics license application (“BLA”); and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Brainstorm Cell should contact the Firm prior to the January 2, 2023 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .

Please visit our website at http://www.gme-law.com for more information about the firm.