Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in TG Therapeutics (NASDAQ:TGTX) in connection to alleged violations of securities laws by TGTX. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in TG Therapeutics between June 4, 2018 and September 25, 2018.
The class action complaint specifically alleges that during the period in question, TGTX might have provided false and/or misleading material information, and/or failed to disclose adverse material information, chiefly: that the company participated in a data cleaning process which provided insight into its UNITY-CLL trial; that the data cleaning revealed to the company that the trial had not met its goal, and that consequently the company knew it would not be able to pursue expedited approval for the therapy; that consequently it was unlikely that the therapy would meet its primary endpoint; and that as a result the company’s statements to the public during the relevant period were false and misleading. On September 25, 2018, the company announced that that the UNITY-CLL study had not met its goal, and that the Data Safety Monitoring Board was unable to complete an analysis of the study’s data. After this revelation, the company’s stock price fell $4.10/share, more than 44%, and closed at $5.15/share on that day. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, TG Therapeutics is a biopharmaceutical firm involved in acquiring, developing and commercializing treatments for “B-cell malignancies and autoimmune diseases.” Current therapies in development include TG-1101, “a novel, glycoengineered monoclonal antibody that targets a specific and unique epitope on the CD20 antigen found on mature B-lymphocytes,” and TGR-1202, “an orally available PI3K delta inhibitor for various hematologic malignancies.” Based in New York City, the company trades on the Nasdaq exchange under the symbol TGTX.