AFR reports that the co to be sued for its promotional announcements., page-18

I have no idea of the merits of this potential class action, but I do agree they have identified the issue with MSB. There is no way I would have invested in MSB if what has come to light in recent months was disclosed before I invested.

Phi Finney McDonald said in documents sent to investors the claim will allege that Mesoblast misrepresented the efficacy and potential benefit of treating patients with Remestemcel-L; misrepresented the significance of trial results; did not disclose to the market material information, including the deficiencies in study design and statistics presented.

Mesoblast allegedly failed to disclose “all information required by a lay person to assess the likelihood of whether Remestemcel-L would be shown to be effective” in treating steroid-refractory acute Graft Versus Host Disease (SR-aGHVD) or acute respiratory distress syndrome (ARDS) caused by COVID-19, the investor document said.