RADNOR, Pa., Nov. 28, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a class action lawsuit has been filed against TG Therapeutics, Inc. (TGTX) (“TG” or the “Company”) on behalf of purchasers of the Company’s common stock between June 4, 2018 and September 25, 2018, inclusive (the “Class Period”).
Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to immediately contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or firstname.lastname@example.org, to discuss their legal rights and options. Additional information may also be found at http://kaskelalaw.com/case/tg-therapeutics/.
TG is a developmental biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. At relevant times, TG was engaged in a randomized controlled Phase 3 trial to evaluate TG-1101 in combination with TGR-1202 for patients with front-line and previously treated Chronic Lymphocytic Leukemia (“CLL”), known as the UNITY-CLL Trial.
On September 25, 2018, TG disclosed 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 also disclosed 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. Following this news, shares of TG’s common stock declined $4.10 per share, or over 44% in value, to close at $5.15 per share on September 25, 2018.
The investor complaint alleges that defendants made materially false and misleading statements during the Class Period and failed to disclose to investors that: (i) 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; (ii) 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 (iii) 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.
IMPORTANT DEADLINE: Investors who purchased TG’s common stock during the Class Period may, no later than December 3, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Investors who purchased the Company’s common stock during the Class Period and suffered a financial loss in excess of $100,000 are encouraged to immediately contact Kaskela Law LLC for additional information about their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and other stockholder actions. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.