Case Summary

Brainstorm Cell Therapeutics

NASDAQ: BCLI

Case Details

  • Sporn v. Brainstorm Cell Therapeutics Inc., et al.
  • Class Period:August 15, 2022 - September 27, 2023
  • Date Filed:November 01, 2023
  • Jurisdiction:U.S. District Court, Southern District of New York
  • Docket Number: 1:23-cv-09630
  • Lead Plaintiff Deadline: January 2, 2024
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Overview

A class action lawsuit, captioned Sporn v. Brainstorm Cell Therapeutics Inc., et al. has been filed against Brainstorm Cell Therapeutics, Inc. (“Brainstorm” or the “Company”) (NASDAQ: BCLI), and certain of the Company’s top executive officers alleging that they violated the federal securities laws.  The lawsuit seeks to represent all persons and entities who purchased or otherwise acquired publicly traded Brainstorm Cell securities between August 15, 2022, and September 27, 2023, inclusive (the “Class Period”).

Brainstorm Cell is a biotechnology company, which develops and commercializes autologous cellular therapies for the treatment of neurodegenerative diseases, including Amyotrophic Lateral Sclerosis, Progressive Multiple Sclerosis, Alzheimer’s disease, and other neurodegenerative diseases. Its pipeline, NurOwn proprietary cell therapy platform, leverages cell culture methods to induce autologous bone marrow-derived mesenchymal stem cells to secrete high levels of neurotrophic factors, modulate neuroinflammatory and neurodegenerative disease processes, promote neuronal survival, and improve neurological function.

ALLEGATIONS

According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Brainstorm Cell downplayed the severity of the Food and Drug Administrations (“FDA”) refusal to file letter; (2) Brainstorm Cell continued to conceal the risks associated with the submission of the biologics license application (“BLA”); and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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If you purchased or otherwise acquired publicly traded Brainstorm Cell Therapeutics securities between August 15, 2022, and September 27, 2023, inclusive, and suffered substantial losses, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com.

The deadline to apply to the Court to serve as a lead plaintiff in the Brainstorm Cell lawsuit is January 02, 2024.

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