SAN FRANCISCO, CA / ACCESSWIRE / August 5, 2022 / Hagens Berman urges TG Therapeutics, Inc. (NASDAQ:TGTX) investors who suffered significant losses to submit your losses now. A securities fraud class action has been filed.
Class Period: Jan. 15, 2020 - May 31, 2022
Lead Plaintiff Deadline: Sept. 16, 2022
Contact An Attorney Now: [email protected]
TG Therapeutics, Inc. (NASDAQ: TGTX) Securities Class Action:
The litigation is focused on Defendants' statements about TG's (1) new drug application ("NDA") to the FDA requesting accelerated approval of Umbralisib for treating marginal zone lymphoma ("MZL") and follicular lymphoma ("FL"), (2) biologics license application ("BLA") to the FDA for Ublituximab in combination with Umbralisib (together, "U2") for treating patients with chronic lymphocytic leukemia ("CLL") (the "U2 BLA"), (3) supplemental NDA ("sNDA") for Umbralisib to add an indication for CLL and small lymphocytic lymphoma ("SLL") in combination with Ublituximab (the "U2 sNDA"), and (4) BLA for Ublituximab as a treatment for relapsing forms of multiple sclerosis (the "Ublituximab RMS BLA").
The complaint alleges Defendants made false and misleading statements and/or failed to disclose material facts, including clinical trial data revealing significant concerns over the safety of Ublituximab and Umbralisib, making it unlikely that the FDA would approve the company's applications in their current forms.
Investors learned the truth through a series of partial disclosures beginning on Nov. 30, 2021, when TG announced that the FDA planned to host a meeting of the Oncologic Drugs Advisory Committee in connection with its review of the U2 BLA and U2sNDA. Then, on April 15, 2022 TG announced it withdrew its U2 BLA/U2sNDA based on safety data. Finally, on June 1, 2022 the FDA announced that it revoked approval for Umbralisib for treating MZL and FL due to safety concerns.
These events drove the price of TG Therapeutics shares sharply lower.
"We're focused on investors' losses and whether TG misrepresented safety data in connection with its submissions to the FDA," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in TG Therapeutics and have significant losses, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding TG Therapeutics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
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About Hagens Berman
Hagens Berman is a global plaintiffs' rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP