{"id":81967,"date":"2024-06-30T17:33:05","date_gmt":"2024-06-30T17:33:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-gritstone-bio-inc-of-class-action-lawsuit-and-upcoming-deadlines-grts\/"},"modified":"2024-06-30T17:33:05","modified_gmt":"2024-06-30T17:33:05","slug":"shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-gritstone-bio-inc-of-class-action-lawsuit-and-upcoming-deadlines-grts","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/shareholder-alert-pomerantz-law-firm-reminds-shareholders-with-losses-on-their-investment-in-gritstone-bio-inc-of-class-action-lawsuit-and-upcoming-deadlines-grts\/","title":{"rendered":"SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Gritstone bio, Inc. of Class Action Lawsuit and Upcoming Deadlines \u2013 GRTS"},"content":{"rendered":"
\n

NEW YORK, June 30, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Gritstone bio, Inc. (\u201cGritstone\u201d or the \u201cCompany\u201d) (NASDAQ: GRTS) and certain officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 24-cv-03640, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Gritstone securities between March 9, 2023 and February 29, 2024, both dates inclusive (the \u201cClass Period\u201d), seeking to recover damages caused by Defendants\u2019 violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the \u201cExchange Act\u201d) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.<\/p>\n

If you are a shareholder who purchased or otherwise acquired Gritstone securities during the Class Period, you have until August 6, 2024 to ask the Court to appoint you as Lead Plaintiff for the class.\u00a0 A copy of the Complaint can be obtained at www.pomerantzlaw.com<\/u><\/a>. \u00a0 To discuss this action, contact Danielle Peyton at newaction@pomlaw.com<\/u><\/a> or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.\u00a0<\/p>\n

[Click here for information about joining the class action]<\/u><\/strong><\/a><\/p>\n

Gritstone, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases.<\/p>\n

In September 2023, Gritstone entered into a contract with the Biomedical Advanced Research and Development Authority (\u201cBARDA\u201d) to run a 10,000 participant, randomized Phase 2b double-blinded study to compare the efficacy, safety, and immunogenicity of its COVID-19 vaccine candidate (a samRNA vaccine candidate) with an approved COVID-19 vaccine (the \u201cPhase 2b CORAL Study\u201d or the \u201cStudy\u201d). In a press release announcing the Phase 2b CORAL Study, the Company stated that the contract \u201cprovides strong validation of [its] innovative vaccine platform in infectious diseases,\u201d that execution of the study would be fully funded by BARDA, and that the Study would be expected to launch in the first quarter of 2024.<\/p>\n

Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company\u2019s business, operations, and prospects. Specifically, Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) the Company would be unable to launch the Phase 2b CORAL Study in the timeframe it had represented to investors; (ii) the foregoing would impair Gritstone\u2019s ability to obtain external funding in connection with the Study, thereby negatively affecting Gritstone\u2019s ability to maintain its balance sheet and cash position; (iii) accordingly, Gritstone overstated its ability to successfully develop and commercialize its products; (iv) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On February 12, 2024, Gritstone issued a press release announcing that the Company was delaying the launch of the Study until Fall 2024 to purportedly \u201callow use of fully GMP-grade raw materials in the vaccine, which is expected to increase the regulatory utility of the trial.\u201d<\/p>\n

Then, on February 29, 2024, Gritstone issued a press release \u201cannounc[ing] an approximately 40% reduction of its workforce<\/em><\/strong>\u201d, stating that \u201c[t]he move comes following the recently announced delay of the proposed CORAL Phase 2b study, which resulted in Gritstone not receiving external funding it previously anticipated beginning in 1Q 2024, associated with the initiation of the study.\u201d<\/p>\n

On this news, Gritstone\u2019s stock price fell $0.78 per share, or 27.86%, to close at $2.02 per share on March 1, 2024.<\/p>\n

As a result of Defendants\u2019 wrongful acts and omissions, and the precipitous decline in the market value of the Company\u2019s securities, Plaintiff and other Class members have suffered significant losses and damages.<\/p>\n

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com<\/u><\/a>.<\/p>\n

Attorney advertising. \u00a0Prior results do not guarantee similar outcomes.<\/p>\n

CONTACT:
<\/strong>Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com<\/u><\/a>
<\/a>646-581-9980 ext. 7980<\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, June 30, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP announces that a class action lawsuit has been filed against Gritstone bio, Inc. (\u201cGritstone\u201d or the \u201cCompany\u201d) (NASDAQ: GRTS) and certain officers. The class action, filed in the United States District Court for the Northern District of California, and docketed under 24-cv-03640, is on behalf […]<\/p>\n","protected":false},"author":2,"featured_media":81968,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/media\/YmQ5NTY4ZDUtMGZlYi00M2I0LThhMGMtMDc1ZGZlNmRhYmMyLTEwMjkyMTc=\/tiny\/Pomerantz-LLP.png","fifu_image_alt":"","footnotes":""},"categories":[208],"tags":[],"class_list":["post-81967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/81967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=81967"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/81967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/81968"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=81967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=81967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=81967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}