Levi & Korsinsky, LLP announces it has commenced a class action lawsuit in the USDC for the Southern District of New York on behalf of shareholders of TG Therapeutics, Inc. (NASDAQ: TGTX) between September 15, 2014 and October 12, 2016.
The complaint alleges that, throughout the Class Period, TGTX misrepresented and/or omitted material information concerning its GENUINE Phase III clinical trial for its proprietary combination of drug therapies TG-1101 and TGR-1202. The Phase III trial consisted of two parts, Part I evaluating the effect of the addition of TG-1101 to ibrutinib on overall response rate (ORR) in approximately 200 patients, and Part II evaluating the effect of the addition of TG-1101 to ibrutinib on progression-free survival (PFS) in all study patients.
During the class period TGTX repeatedly assured investors as to the efficacy and potential FDA approval of the treatment, referring to it as a “best-in-class treatment.” Then on October 13, 2016, TGTX announced that it would abandon Part II of the study, thus annulling its filed Special Protocol Assessment with the FDA and cutting enrollment and increasing the likelihood that the FDA would not approve the combination treatment.
If you suffered a loss in TGTX you have until March 7, 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.
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