INVESTOR SYNOPSIS: Taking a Look into the BRAINSTORM CELL CLASS ACTION LAWSUIT

If you suffered losses in Brainstorm stock, contact Brainstorm stock loss lawyer Timothy L. Miles about a Brainstorm class action lawsuit

overview

Welcome to this investor synopsis of the Brainstorm Cell class action lawsuit. In this synopsis, we will discuss in detail Brainstorm Cell Therapeutics, Inc., including its background, leadership, directors, stock information, and then delve into the Brainstorm Cell class action lawsuit, including the lead plaintiff process, qualifications for the Brainstorm Cell class action lawsuit, how a Brainstorm Cell stock loss lawyer can help you, and much more.  

BACKGROUND ON BRAINSTORM CELL

Overview of Brainstorm Cell

Brainstorm Cell Therapeutics, Inc., a biotechnology firm, is dedicated to creating and commercializing autologous cellular therapies for treating neurodegenerative illnesses, such as Amyotrophic Lateral Sclerosis, Progressive Multiple Sclerosis, Alzheimer’s disease, and other similar conditions. Its NurOwn platform utilizes cell culture techniques to spur bone marrow-derived mesenchymal stem cells to secrete high amounts of neurotrophic factors, manage the neuroinflammatory and neurodegenerative aspects of the disease, protect neurons, and enhance neurological functioning. The company was initiated by Irit Arbel on September 22, 2000 and is located in New York, NY.​

Brainstorm Cell's Leadership

The company is led by Chaim Lebovits, its President and Chief Executive Officer (CEO), and Stacy Lindborg, PhD, who serves as Co-CEO. Mr. Lebovit joined BrainStorm in July 2007 as President and has served as CEO since September 2015. Mrs. Lindborg ​joined Brainstorm in June 2020 and has served the role as Co-CEO at Brainstorm since that time.  Alla Patlis joined BrainStorm in December 2012 as Controller, but, according to the company's website, currently is serving as Interim Chief Financial Officer. Prior to joining the Company, from 2010 to December 2012, Ms. Patlis was Audit Senior of technology, media, and telecommunications industries at Brightman Almagor Zohar & Co. (Certified Public Accountants, A Member of Deloitte Touche Tohmatsu Limited).  

Kirk Taylor, MD serves as the Company's Executive Vice President and Chief Medical Officer.  Antal Pearl-Lendner, Adv., MBA serves as the company's Vice President and Chief Legal Counsel. Uri Yablonka joined BrainStorm in 2014, and currently serves as Executive Vice President and Chief Business Officer. He is also a member of the Board of Directors. Mary Kay Turner joined BrainStorm in August of 2017 as Vice President of Patient Advocacy and Government Affairs. William White joined Brainstorm in September 2020 and serves as Senior Vice President and Head of Market Access and Pricing. Antonio Trejo serves as Vice President, Regulatory Affairs. Yossef Levy serves as Vice President, Cell Production. Yael Gothelf, PhD serves as Vice President, Scientific and Regulatory Affairs. Netta Blondheim-Shraga, PhD is the Vice President of Research & Development at BrainsStorm. Finally, Alla Patlis, CPA, MBA joined BrainStorm in December 2012 and serves as Controller, and according to the company's website currently serves as Interim Chief Financial Officer.

Brainstorm Cell's Board of Directors

​​According to the company's website, it has a seven-member Board consisting of: 

• Prof. Jacob Frenkel PhD:  Chairman of the Board and previously served as Chairman of JPMorgan Chase International from 2009 to 2020 and is currently serving as a Senior Advisor to JPMorgan Chase.  

 

• Irit Arbel, PhD:  Vice Chairman and one of BrainStorm’s co-founders who joined the Company in May 2004, as a Director and served as President of the company for six months.

 

• June Almenoff, MD, PhD:  Previously served as President and Chief Marketing Officer of Furiex Pharmaceuticals, until it was acquired by Actavis plc. 

 

• Nir Naor:  Served as CFO of Arbor Pharmaceuticals and also founded the Portfolio Management function in UCB, and later on became UCB’s US CFO. 

 

• Anthony Polverino, PhD:  Currently Executive Vice President, Early Development and Chief Scientific Officer at Zymeworks Inc.

 

• Uri Yablonka:  Joined BrainStorm in 2014 as Chief Operating Officer, and as a member of the Board of Directors, and previously served as Owner and General Manager of Uri Yablonka Ltd., a business consulting firm since December 201.  

 

• Mengis Bairu, MD:  founder, chairman, and CEO of Proxenia Venture Partners. 

     
​The Board has two standing committees: an Audit Committee and a Governance, Nominating and Compensation Committee.  The company also has a Scientific Advisor Board consisting of Jerold Chun, MD, PhD (currently Professor and Senior Vice President of Neuroscience Drug Discovery at Sanford Burnham Prebys Medical Discovery Institute); Stanley H. Appel, MD (Peggy and Gary Edwards Distinguished Endowed Professor for the Treatment and Research of ALS, Department of Neurology, Neurological Institute, Houston Methodist Hospital and Professor of Neurology at Weill Medical College at Cornell University); Amit Bar-Or, MD (a neurologist and neuroimmunologist, is the Presidential Endowed Chair at the University of Pennsylvania (UPenn/CHOP); and Ralph Kern, MD, MHSc (former President and Chief Medical Officer at BrainStorm from March 2017-January 2023).).

Brainstorm Cell's Stock Information

​BrainStorm Cell's stock is traded on NASDAQ under the ticker symbol BCLI.  The stock currently trading at around $0.16 per share, with a 53-week range of $0.13 to $3.64 with a market capitalization of approximately $7.2 million. 

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INTRODUCTION TO THE BRAINSTORM CELL CLASS ACTION LAWSUIT

The Brainstorm Cell class action lawsuit seeks to represent purchasers or acquirers of  Brainstorm Cell Therapeutics Inc.​ (NASDAQ: BCLI) publicly traded securities between August 15, 2022 and September 27, 2023, inclusive (the “Class Period”).  Captioned Sporn v. Brainstorm Cell Therapeutics Inc., No. 23-cv-09630 (S.D.N.Y.), the Brainstorm Cell class action lawsuit charges Brainstorm Cell and certain of its top current executive officers with violations of the​ Securities Exchange Act of 1934.
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If you suffered losses in Brainstorm Cell stock and wish to serve as lead plaintiff in the Brainstorm Cell class action lawsuit, please contact Brainstorm Cell Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Brainstorm Cell class action lawsuit must be filed with the court no later than January 2, 2024.

ALLEGATIONS IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT

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.

The Brainstorm Cell class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Brainstorm Cell downplayed the severity of the U.S. Food and Drug Administration’s (“FDA”) refusal to file letter; and (ii) Brainstorm Cell continued to conceal the risks associated with the submission of its Biologics License Application.

The Brainstorm Cell class action lawsuit further alleges that on November 10, 2022, Brainstorm Cell issued a press release titled “BrainStorm Cell Therapeutics Receives Refusal to File Letter from FDA for its New Biologics License Application for NurOwn for the treatment of ALS.”  The Brainstorm Cell class action lawsuit alleges that following this announcement, the price of Brainstorm Cell stock fell more than 42%.

The Brainstorm Cell class action lawsuit further alleges that on September 27, 2023, Brainstorm Cell announced that members of the FDA’s Cellular, Tissue, and Gene Therapies Advisory Committee voted 17 to 1 that there was not substantial evidence to show NurOwn’s effectiveness.  The Brainstorm Cell class action lawsuit alleges that on this news, the price of Brainstorm Cell stock fell more than 48%.

THE LEAD PLAINTIFF PROCESS IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Brainstorm Cell stock to seek appointment as lead plaintiff in the Brainstorm Cell class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
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​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Brainstorm Cell stock and have further questions, contact Brainstorm Cell​ stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Brainstorm Cell class action lawsuit if you suffered losses in Brainstorm Cell​​ stock.

THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT

Serving as a Lead Plaintiff in the Brainstorm Cell class action lawsuit has several advantages and important benefits including:

• A Lead Plaintiff is able to negotiate more competitive attorney fees and reduce other litigation costs by actively monitoring the class counsel.
• Lead Plaintiff has the benefit of being able to manage the litigation primarily by overseeing and monitoring the progress of the action and the efforts of counsel, and being able to review and comment on important filings and other documents pertaining to the prosecution of the action.
• There is no financial risk in serving as a Lead Plaintiff because Lead Counsel advances all costs and expenses incurred it the prosecution of the case and will be reimbursed only if there is a successful settlement or judgment recovery on behalf of the class.
• Lead Plaintiff has the benefit involved and active in all negotiations relating to any settlement.
• Lead Plaintiffs that continue owning the stock of the defendant will enjoy the long-term benefits from governance reform resulting from the litigation. 

Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Brainstorm Cell if you suffered losses in Brainstorm Cell​​ stock. 

CAN NON-U.S. INVESTORS SERVE AS LEAD PLAINTIFFS?

​Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors.  Thus, if a non-U.S. investor suffered losses in Brainstorm Cell​ stock, they may move the Court to be appointed lead plaintiff in the Brainstorm Cell​​ class action lawsuit. 

CAN I BE APPOINTED LEAD PLAINTIFF IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No.  Even if you suffered losses in Brainstorm Cell​ stock, if you purchased securities outside of the Class period, you will not be able to participate in the Brainstorm Cell​​ class action lawsuit​.​

CAN I BE LEAD PLAINTIFF IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT IF I AM LEAD PLAINTIFF IN ANOTHER CASE?

​Yes, unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Brainstorm Cell stock, you may move to be appointed lead plaintiff in the Brainstorm Cell​​ class action lawsuit​..

HOW WAS THE CLASS PERIOD DETERMINED IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT?

In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in theBrainstorm Cell class action lawsuit, you must have suffered losses in Brainstorm Cell stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Brainstorm Cell​.  ​

HOW A BRAINSTORM CELL STOCK LOSS LAWYER CAN HELP

​​​​A Brainstorm Cell stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals as in the class action lawsuit against Brainstorm Cell. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.

While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. 

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. ​

COST OF HIRING A BRAINSTORM CELL STOCK LOSS LAWYER

​If you have suffered losses in Brainstorm Cell stock and are a member of the class, hiring a Brainstorm Cell stock loss lawyer does not require any upfront payment. Securities litigation firms, including the Law Offices of Timothy L. Miles, typically handle these cases on a contingency fee basis.

Under this arrangement, plaintiffs and the class do not pay attorneys' fees or court costs unless there is a recovery. The attorney fees and costs are awarded by the court as a percentage of the total recovery for the class.

HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE BRAINSTORM CELL CLASS ACTION LAWSUIT?

​​If you purchased shares during the class period and suffered losses in Brainstorm Cell stock, then you are most likely a member of the class in the Brainstorm Cell class action lawsuit and may participate in the Brainstorm Cell class action lawsuit since you suffered losses in Brainstorm Cell​​ stock.