NEW YORK, Jan. 16, 2017 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against TG Therapeutics, Inc. (“TG Therapeutics” or the “Company”) (NASDAQ:TGTX) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased TG Therapeutics securities between September 15, 2014 and October 12, 2016, both dates inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/tgtx.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).
TG Therapeutics is a biopharmaceutical company that manufactures, develops and markets new treatments for B-cell, malignancies and autoimmune diseases. The Company develops TG-1101 and TGR-1202, two treatments against hematological malignancies and autoimmune diseases. The Complaint further suggests that on September 17, 2015, TG Therapeutics announced that the U.S. Food and Drug Administration (FDA) had contacted them due to a Special Protocol Assessment on the make of a Phase 3 clinical trial for TG-1101 and TGR-1202.
This Phase 3 trial, the GENUINE trial, was to demonstrate that TG-1101 could prove a surge in the total response rate and progression-free survival ("PFS") in 330 existing patients with certain cancer cell mutations.
The Complaint alleges that throughout the class period, defendants failed to disclose material information regarding the Phase 3 trial, and instead hyped that it is the "best-in-class" treatment, "successful" and "a novel chemo-free treatment option." Furthermore, TG Therapeutics did not set up an adequate screening mechanism in the GENUINE enrolling sites and did not enroll patients at the required rate for the study to be successful. Additionally, the trial did not attract 330 patients, contrary to TG Therapeutics’ statements.
On October 13, 2016, TG Therapeutics announced that it filed an amended protocol with the Food and Drug Administration for its leukemia drug combination, GENUINE Phase 3 Trial, and revealed that it no longer benefits from its previously negotiated Special Protocol Assessment with the FDA. Following this news, TG Therapeutics, stock dropped about $0.38 per share to close at $6.85 on that same day.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/tgtx or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in TG Therapeutics you have until March 13, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.