TG Therapeutics, Inc. (Nasdaq: TGTX)
A class action has been commenced in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired TG Therapeutics, Inc. (Nasdaq: TGTX) securities between June 4, 2018 to September 25, 2018, (the “Class Period”).
The complaint alleges that during the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding TG’s business and prospects. Specifically, the complaint alleges defendants failed to disclose that TG was involved in cleaning the data collected in the UNITY-CLL Trial and, as a result, was able to gain an understanding as to the efficacy of the combination therapy; that, as a result of that data cleaning, TG knew the UNITY-CLL Trial had failed to meet its stated goal, and that, as a result, the Company would not be able to seek accelerated approval; and that, given that the UNITY-CLL Trial had failed to meet its stated goal, it was highly unlikely that the combination therapy would meet its primary endpoint of increased progression free survival – in other words, the drug therapy had failed. As a result of defendants’ false statements and/or omissions, the price of TG common stock was artificially inflated during the Class Period to as high as $14.70 per share.
Then, on September 25, 2018, TG announced that it would not be releasing the data from the UNITY-CLL Trial and that it had failed to meet the trial’s stated goal. The Company issued a press release announcing that the Data Safety Monitoring Board had met to review ongoing data from the UNITY-CLL Trial and had advised the Company that the interim analysis of the study data could not be conducted at this time because the data was not sufficiently mature to conduct the analysis. In response to the news that the UNITY-CLL Trial had failed to meet its stated goal and that potential commercialization would be greatly delayed, the price of TG stock declined 44%, falling from $9.25 per share to $5.15 per share.
If you are a current shareholder and/or purchased stock during the period between June 4, 2018 to September 25, 2018, and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.