LGVN.US
id: 684
Longeveron Inc. (LGVN) $1.4 IPO Settlement
S.D. Florida
Court21-CV-23303
Case number02/12/2021
Class period Start08/12/2021
Class period End09/08/2023
Claim deadlineLongeveron Inc. (LGVN) settles $1.3975 M with Investors.
The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of a material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Complaint alleges that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that:
- Lomecel-B was not as effective in treating aging frailty as Defendants had led investors to believe;
- accordingly, Lomecel-B's clinical and commercial prospects with respect to aging frailty were overstated; and
- as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state the information required to be stated therein.
Case Status
Disbursement
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.41
Filing date
09/13/2021
Plaintiffs
Jerald Vargas Malespin
Attorneys
The Rosen Law Firm, P.A. (New York, NY)
Defendants
Geoff Green, James Clavijo, Joshua M. Hare, Donald M. Soffer, Neil E. Hare, Rock Soffer
Judge
Hon. Roy K. Altman
Administrator
Strategic Claims Services
Court hearing date
10/10/2023
Exclusion deadline
08/25/2023
Objection deadline
09/26/2023
Hearing deadline
09/26/2023
Trades matching type
FIFO
Disbursement date
01/21/2025
+$1,397,500
Cash Settlement Amount