NEW YORK--(BUSINESS WIRE)--Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed Gossamer Bio, Inc. ("Gossamer " or "the Company") (NASADQ: GOSS) (1) pursuant and/or traceable to the Company’s initial public offering in February 2019 (the "IPO" or "Offering"); and/or (2) between February 8, 2019 and December 13, 2019, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/goss.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933 and the Securities Exchange Act of 1934.
The Complaint alleges that the materials supporting this offering, and certain of Gossamer’s post-IPO public filings, were misleading and/or omitted material facts in connection with the Company’s GB001 drug and its related clinical trials and studies.
Gossamer’s most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer conducted its initial public offering (“IPO”), issuing approximately 19.8 million shares of common stock priced at $19.00 per share. Then, 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. Following this announcement, Gossamer’s stock price fell $9.41 per share, or 37.09%, to close at $15.96 per share on December 16, 2019. Gossamer stock has continued to drop, and is presently trading at roughly $10.00 per share.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/goss or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Gossamer you have until June 2, 2020 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.