NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against TG Therapeutics, Inc. (“TG” or the “Company”) (NASDAQ: TGTX) and other defendants, related to alleged violations of federal securities laws. If you purchased TG Therapeutics securities between June 4, 2018 and September 25, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information. The lead plaintiff deadline is December 3, 2018.
TG is a developmental biopharmaceutical company focused on treatments for B-cell malignancies and autoimmune diseases. The Company has been developing two therapies targeting hematologic malignancies: TG-1101 (ublituximab) and TGR-1202 (umbralisib).
During the Class Period, 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.
The lawsuit alleges that defendants made false and misleading statements regarding TG’s business and prospects and the UNITY-CLL Trial. Specifically, that 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, thus, 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.
On September 25, 2018, pre-market, 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 because the data was not sufficiently mature.
On this news, the price of TG stock fell from $9.25 per share to $5.15 per share – a drop of over 44%.
What You Can Do
If you purchased TG Therapeutics securities between June 4, 2018 and September 25, 2018, inclusive, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at jpettigrew@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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