Brainstorm Cell (BCLI) Biologics License Problem Case

A request is made for the court to officially recognize the group of plaintiffs as a class.

S.D. New York

Court

1:23-cv-09630

Case number

08/15/2022

Class period Start

09/23/2023

Class period End

01/02/2024

Lead Plaintiff motion deadline

Brainstorm Cell allegedly downplayed an FDA letter and concealed biologics license application risks.
In September 2023, the truth came out, leading to a 47% $BCLI fall the next day.

Brainstorm is currently under investigation due to an FDA report, regarding its biologics license application (BLA).

The issues included insufficient scientific evidence, major gaps in information about the treatment's safety and effectiveness, and missing details like proper material control and safety measures.

Additionally, there were concerns about the facilities used to make the treatment, as they weren't ready for inspection.

This news caused $BCLI fall by 47% and $8.42M loss of market cap, damaging shareholders.

Given all the information, investors have reasons to suspect that Brainstorm didn't disclose issues with BLA and the company's treatment's quality and safety.

Case Type

US Securities Class Action

Case Status

Motion to certify class

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

09/28/2023

Filing date

11/01/2023

Lead Plaintiff Deadline

01/02/2024