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Oklahoma City, OK (October 11, 2018) – On October 4, 2018, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against TG Therapeutics, Inc. (NASDAQ: TGTX). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is June 4, 2018 through September 25, 2018. More specifically, the complaint alleges defendants failed to disclose that TGTX 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, TGTX 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.
Then, on September 25, 2018, TGTX 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. On this news, the price of TGTX stock declined 44%, falling from $9.25 per share to $5.15 per share.
Plaintiff seeks to recover damages on behalf of all TG Therapeutics, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, December 3, 2018 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at email@example.com