GOSS - UPDATE: Block & Leviton Announces that it Has Filed a Lawsuit Against Gossamer Bio Inc. for Securities Law Violations; Shareholders Who Have Lost Money Should Contact the Firm
BOSTON, April 03, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that it has filed a class action lawsuit on behalf of shareholders against Gossamer Bio, Inc. (Nasdaq: GOSS) and certain of its officers and directors for securities fraud. The lead plaintiff deadline is June 2, 2020. Investors who purchased Gossamer shares between February 8, 2019 and December 13, 2019, should contact the firm for a free case evaluation.
Gossamer is a clinical-stage biopharmaceutical company focused on developing and commercializing therapeutics in the areas of immunology, inflammation, and oncology. The company’s most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer held its initial public offering (“IPO”) of common stock, selling approximately 19.8 million shares at $16.00 each.
The complaint, filed in the U.S. District Court for the Southern District of California, alleges that the materials supporting this offering, and certain of Gossamer’s post-IPO public filings, may have misled investors or otherwise omitted material facts relevant to Gossamer’s GB001 drug and its related clinical trials and studies. The case is captioned Kuhne v. Gossamer Bio, Inc., et al., No. 3:20-cv-00649 (S.D. Cal.), and was filed at the James M. Carter & Judith N. Keep United States Courthouse, 333 West Broadway, San Diego, California, 92101. The case has been assigned to Judge Dana M. Sabraw and Magistrate Judge Mitchell D. Dembin.
On December 16, 2019, Novartis announced that it was terminating the development of its DP2 antagonist for asthma after it failed a pair of phase 3 clinical trials. As a result, Gossamer’s common stock dropped by approximately 37% in one day. The stock has continued to plummet, and is presently trading around $10.00 per share.
If you purchased or acquired shares of Gossamer common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at jake@blockesq.com, or at https://shareholder.law/gossamer. Gossamer investors who purchased or otherwise acquired shares of Gossamer common stock may, no later than June 2, 2020, seek to be appointed as a lead plaintiff representative of the Class. No class has yet been certified in this action, and thus, you are not represented by counsel unless you retain one. You may seek to file a motion to serve as a lead plaintiff, or take no action and remain an absent class member.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: jake@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com