NEW YORK, NY / ACCESS Newswire / July 20, 2025 / Pomerantz LLP announces that a class action lawsuit has been filed against Rocket Pharmaceuticals, Inc. ("Rocket" or the "Company") (NASDAQ:RCKT) and certain officers.â?¯â?¯ The class action, filed in the United States District Court for the District of New Jersey, and docketed under 25-cv-13532, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Rocket securities between September 17, 2024 and May 26, 2025, both dates inclusive (the "Class Period"), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.
If you are an investor who purchased or otherwise acquired Rocket securities during the Class Period, you have until August 11, 2025 to ask the Court to appoint you as Lead Plaintiff for the class.â?¯ A copy of the Complaint can be obtained at www.pomerantzlaw.com. â?¯To discuss this action, contact Danielle Peyton at newaction@pomlaw.comâ?¯or 646-581-9980 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.â?¯
[Click here for information about joining the class action]
Rocket, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases in the U.S. The Company develops in vivo adeno-associated viral programs, including, inter alia, RP-A501 for the treatment of Danon disease, a multi-organ lysosomal-associated disorder leading to early death due to heart failure. RP-A501 is in Phase 2 clinical development.
Defendants provided investors with material information concerning RP-A501 including, among other things, confidence in the drug’s safety and efficacy, as well as the clinical trial’s detailed protocol and Rocket’s purported ability to meet the trial’s endpoints as per the Company’s ascribed timeline.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) RP-A501 was less effective than Defendants had led investors to believe; (ii) to increase its effectiveness, Rocket amended RP-A501’s clinical trial protocol by introducing a novel immunomodulatory agent; (iii) the foregoing increased the risk that patients would suffer from a Serious Adverse Event ("SAE")); (iv) accordingly, RP-A501’s safety, as well as its clinical, regulatory, and commercial prospects, were overstated; and (v) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On May 27, 2025, Rocket announced that the United States Food & Drug Administration ("FDA") placed a clinical hold on the RP-A501 Phase 2 pivotal study after at least one patient suffered an SAE, ultimately, death, while enrolled in the study following a substantive amendment to the protocol that the Company failed to disclose to investors at the time management made the revision. In fact, Rocket stated that, while the patient was dosed in May, the decision to amend the protocol was made "several months" earlier. Despite this, Rocket made no attempt to alert investors or the public to the change until after the SAE occurred.
On this news, Rocket’s stock price fell $3.94 per share, or 62.84%, to close at $2.33 per share on May 27, 2025.
Market analysts were quick to comment on the Company’s announcement. For example, on May 27, 2025, J.P. Morgan published a report entitled "Clinical Hold a Major Setback for Danon Pivotal and Shares," which stated, in relevant part, that "[i]n our view, this morning’s announcement of a patient death in the pivotal phase 2 study of RP-A501 for Danon Disease and subsequent FDA placed clinical hold represents a major, perhaps insurmountable, setback for the program."
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. â?¯Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
View the original press release on ACCESS Newswire
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