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Levi & Korsinsky Files Complaint for Gossamer Bio Investors
Lawsuit seeks to recover losses for shareholders after failed drug trial results
Mar. 31, 2026 at 10:44pm
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Levi & Korsinsky, LLP has filed a class action lawsuit against Gossamer Bio, Inc. on behalf of investors who purchased the company's securities between June 16, 2025 and February 20, 2026. The lawsuit alleges that Gossamer provided misleading information to investors about the design of its Phase 3 PROSERA drug trial, particularly regarding the placebo response at Latin American testing sites, which ultimately led to the trial failing to meet its primary endpoint.
Why it matters
This case highlights the risks investors face when relying on information provided by pharmaceutical companies, especially around the development of new drugs. The lawsuit alleges that Gossamer misled investors, causing significant losses when the trial results were announced.
The details
According to the complaint, Gossamer published overwhelmingly positive statements about the PROSERA trial while concealing material information about issues with the study design, particularly around controlling for the placebo response at Latin American testing sites. When Gossamer announced the trial had failed to meet its primary endpoint on February 23, 2026, the company's stock price plummeted over 80% in a single day.
- The class action lawsuit was filed on March 31, 2026.
- The lawsuit covers the period from June 16, 2025 to February 20, 2026.
- Investors have until June 1, 2026 to request to be appointed as lead plaintiff.
The players
Gossamer Bio, Inc.
A biopharmaceutical company that was developing the PROSERA drug for the treatment of a respiratory condition.
Levi & Korsinsky, LLP
A law firm that has filed the class action lawsuit on behalf of Gossamer investors and is seeking to recover losses.
Daniel Kinnamon
The lead plaintiff in the class action lawsuit against Gossamer Bio.
What they’re saying
“Our firm is committed to ensuring that investors receive full compensation for losses caused by corporate misrepresentations.”
— Joseph E. Levi, Partner, Levi & Korsinsky
What’s next
The judge will decide on June 1, 2026 whether to appoint a lead plaintiff in the class action lawsuit against Gossamer Bio.
The takeaway
This case highlights the importance of pharmaceutical companies providing accurate and transparent information to investors, especially around the development of new drugs. Investors will be closely watching the outcome of this lawsuit, which could set a precedent for holding companies accountable for misleading statements.
