Investor News: Lawsuit alleges Misleading Statements by Genocea Biosciences Inc (NASDAQ:GNCA)

An investor in NASDAQ:GNCA shares filed a lawsuit against Genocea Biosciences Inc over alleged violations of Federal Securities Laws.

Investors who purchased shares of Genocea Biosciences Inc (NASDAQ:GNCA) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

The plaintiff claims that between May 5, 2017 and September 25, 2017, the Defendants made false and/or misleading statements and/or failed to disclose that the Company’s finances were insufficient to support Phase 3 trials of GEN-003, that accordingly, Genocea had overstated the prospects for GEN-003, and that 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 Biosciences Inc 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. Shares of Genocea Biosciences Inc (NASDAQ:GNCA) declined on November 1, 2017 to as low as $1.08 per share.

Those who purchased shares of Genocea Biosciences Inc (NASDAQ:GNCA) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com