Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of August 10, 2026 in Erasca, Inc. Lawsuit - ERAS

Important Information Regarding Section 20(a) Individual Liability Claims: Erasca's CEO and CFO Allegedly Certified Misleading Statements About ERAS-0015 While the Company Raised $258.8 Million From Investors

NEW YORK, June 29, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP alerts investors in Erasca, Inc. (NASDAQ: ERAS) of a pending securities class action naming two senior executives as individual defendants. Class Period: January 14, 2025 through April 26, 2026. Find out if you qualify to recover losses or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com | (212) 363-7500.

Shares collapsed 53.9%, a loss of $11.59 per share, after corrective disclosures revealed patent infringement allegations and a patient death in ERAS-0015 trials. The Court has set August 10, 2026 as the deadline to apply for lead plaintiff appointment.

The Named Individual Defendants

Jonathan Lim, co-founder, Chief Executive Officer, and Chairman of the Board, and David Chacko, Chief Financial Officer and Chief Business Officer, are both named as defendants under Section 20(a) of the Securities Exchange Act of 1934. As alleged in the complaint, these officers possessed the power and authority to control the content and form of Erasca's SEC filings, press releases, investor presentations, and other materials disseminated to the market throughout the Class Period.

Sarbanes-Oxley Certification Obligations

Both Lim and Chacko signed certifications under Sections 302 and 906 of the Sarbanes-Oxley Act for Erasca's 2024 and 2025 Annual Reports on Form 10-K. These certifications personally attested that:

• The reports did not contain untrue statements of material fact or omit material facts necessary to make statements not misleading
• The reports fairly presented, in all material respects, the financial condition and results of operations of the Company
• The officers had designed and maintained disclosure controls and procedures to ensure material information was made known to them
• The officers had evaluated the effectiveness of those disclosure controls within 90 days of the filing
  
  

The complaint charges that these certifications were materially false because Lim and Chacko knew or recklessly disregarded that ERAS-0015's preclinical comparisons to RevMed's RMC-6236 were improper and exposed the Company to patent and trade secret liability.

Section 20(a) Control Person Framework

Section 20(a) of the Exchange Act imposes liability on every person who, directly or indirectly, controls any person liable under Section 10(b). The complaint asserts that Lim and Chacko, by virtue of their senior positions, controlled the Company's public disclosures and had access to material non-public information that was concealed from investors. The action contends these officers authorized the publication of misleading materials and had both the ability and opportunity to prevent their issuance or cause them to be corrected.

Scienter Allegations

The pleading asserts that scienter is supported by the officers' direct involvement in presenting ERAS-0015 data at investor conferences, their authorization of SEC filings containing allegedly improper RMC-6236 comparisons, and the timing of a $258.8 million stock offering that closed on January 23, 2026, while the allegedly misleading statements remained uncorrected. The complaint charges that these officers were motivated to maintain artificially inflated stock prices to facilitate the offering.

"Corporate officers have a duty to ensure their companies' public statements are accurate and complete. When executives personally certify SEC filings containing comparative data that is later revealed to be improper, the question of individual accountability becomes central to shareholder recovery," stated Joseph E. Levi, Esq.

Submit your information to join the recovery or call Joseph E. Levi, Esq. at (212) 363-7500.

Levi & Korsinsky, LLP -- Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered.

Frequently Asked Questions About the ERAS Lawsuit

Q: When did Erasca allegedly mislead investors? A: The class period runs from January 14, 2025 through April 26, 2026. The alleged fraud was revealed through corrective disclosures on April 27-28, 2026, causing a 53.9% stock decline.

Q: Who are the defendants named in the ERAS lawsuit? A: The complaint names Erasca, Inc. and individual defendants Jonathan Lim (CEO and Chairman) and David Chacko (CFO and Chief Business Officer), who signed SEC filings and made public statements during the Class Period.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: How do I know if I lost enough money to be the lead plaintiff? A: There is no minimum loss threshold. Courts appoint the investor with the largest provable loss who is willing and able to represent the class adequately. Contact Levi & Korsinsky before August 10, 2026 to evaluate.

Q: What if I already sold my ERAS shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before August 10, 2026 ensures your losses are considered.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171

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