LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In TG Therapeutics, Inc. To Contact The Firm
NEW YORK, Nov. 12, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in TG Therapeutics, Inc. (“TG Therapeutics” or the “Company”) (NASDAQ:TGTX) of the December 3, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in TG Therapeutics stock or options between June 4, 2018 and September 25, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/TGTX. There is no cost or obligation to you.
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The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased TG Therapeutics common stock between June 4, 2018 and September 25, 2018 (the “Class Period”). The case, Reinmann v. TG Therapeutics, Inc. et al, No. 1:18-cv-09104 was filed on October 4, 2018 and has been assigned to Judge Katherine Polk Failla.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) TG Therapeutics was involved in cleaning the data collected in the UNITY-CLL study, a Phase 3 trial evaluating a combination therapy for patients with Chronic Lymphocytic Leukemia, and, as a result, was able to gain an understanding as to the efficacy of the therapy; (2) as a result of that data cleaning, TG Therapeutics knew that the study had failed to meet its stated goal and that, as a result, the Company would not be able to seek accelerated approval; and (3) given that the study had failed to meet its stated goal it was highly unlikely that the combination therapy would meet its primary endpoint.
Specifically, on September 25, 2018, TG Therapeutics announced that it wouldn’t be releasing the data from the UNITY-CLL study and that it had failed to meet its stated goal. The Company stated that its Data Safety Monitoring Board had advised it that the data from the study was not “sufficiently mature” to conduct an analysis.
After the announcement, TG Therapeutics’ share price fell from $9.25 per share on September 24, 2018 to a closing price of $5.15 on September 25, 2018—a $4.10 or a 44.32% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding TG Therapeutics’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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