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Gossamer Bio, Inc. (NASDAQ: GOSS) Investor Securities Class Action Lawsuit 04/03/2020

  • If you purchased shares of Gossamer Bio, Inc. (NASDAQ: GOSS), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Gossamer Bio, Inc.
Security
NASDAQ: GOSS

Case Name
Gossamer Bio Shareholder Class Action Lawsuit 04/03/2020
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of California

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Summary

April 19 , 2021 - The court granted in part and denied in part the defendants' motion to dismiss.

January 19, 2021 - A motion to dismiss the second amended complaint was filed.

November 20, 2020 - A second amended complaint was filed.

August 31, 2020 - An amended complaint was filed.

April 3, 2020 - An investor in shares of Gossamer Bio, Inc. (NASDAQ: GOSS) filed a lawsuit in the U.S. District Court for the Southern District of California over alleged violations of Federal Securities Laws by Gossamer Bio, Inc. in connection with certain allegedly false and misleading statements made between February 8, 2019 and December 13, 2019.

San Diego, CA based Gossamer Bio, Inc., a clinical-stage biopharmaceutical company, focuses on discovering, acquiring, developing, and commercializing therapeutics in the disease areas of immunology, inflammation, and oncology in the United States. Gossamer Bio, Inc's most advanced product is its GB001 drug, a DP2 antagonist, in development to treat asthma. In February 2019, Gossamer Bio, Inc 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.

According to the complaint the plaintiff alleges on behalf of purchasers of Gossamer Bio, Inc. (NASDAQ: GOSS) common shares, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the materials supporting Gossamer's IPO, and certain of Gossamer’s post-IPO public filings, misled investors or otherwise omitted material facts relevant to Gossamer’s GB001 drug and its related clinical trials and studies. The plaintiff alleges that the Defendants misrepresented and/or failed to disclose to investors: (1) the reasons for Gossamer's GB001 trial failures; (2) the purported clinical validation of Novartis'oral DP2 antagonist; and (3) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.