Investors Alert: Class Action Against MacroGenics and Vicor

Author: Addison Perry Updated: 09-17-2024 09:43 PM

Class Action Lawsuits Overview

Bragar Eagel & Squire, P.C., a prominent law firm focusing on shareholder rights, has initiated significant class action lawsuits for investors of MacroGenics, Inc. (NASDAQ: MGNX) and Vicor Corporation (NASDAQ: VICR). With mounting concerns over company disclosures and stock performances, investors are urged to examine their legal rights regarding participation in these lawsuits.

Understanding MacroGenics' Situation

MacroGenics, known for its innovative cancer therapies, faces legal scrutiny following a dramatic decline in its stock price. Between March 7, 2024, and May 9, 2024, serious issues arose, leading to five reported fatalities during the company's TAMARACK Phase 2 study involving vobramitamab duocarmazine, a treatment for metastatic castration-resistant prostate cancer. The share price plummeted from $14.67 to $3.31 within just one day, a staggering drop of approximately 77.4%.

Allegations Against MacroGenics

The class action alleges that MacroGenics misled investors by failing to disclose critical safety data from early interim results. The lawsuit claims that while presenting overly positive assessments, they concealed adverse facts, potentially breaching regulations governing investor communication.

Vicor Corporation's Challenges

In tandem, Vicor Corporation is also under the microscope. The firm faced allegations during its class period from April 26, 2023, to February 22, 2024. Reports surfaced suggesting that Vicor misrepresented its market standing and contractual agreements tying to its H100 product, initially signaling a deal with Nvidia Corporation. This narrative shifted dramatically when Vicor did not mention the deal during its quarterly report, leading to investor confusion and disillusionment.

Impact on Vicor's Stock

Vicor's stock price suffered significant losses due to the misleading communications, dropping nearly 60% from a peak of around $100 per share. Such a decline has instigated investor backlash, insisting on accountability for misrepresentations made during the class periods.

Legal Rights and Deadlines for Investors

Investors in both MacroGenics and Vicor must be vigilant regarding their rights. The deadlines for appointing lead plaintiffs in each class action are fast approaching, with MacroGenics set for September 24, 2024, and Vicor following closely on September 23, 2024. It's crucial for affected stockholders to seek legal advice promptly.

About Bragar Eagel & Squire, P.C.

Bragar Eagel & Squire is recognized across the nation for its commitment to protecting investor rights. With offices spanning major states and years of experience in securities litigation, the firm is well-equipped to support investors navigating complex legal challenges posed by misleading corporate practices.

Contact Information

For more details or legal inquiries, investors may reach out to Bragar Eagel & Squire, P.C.:
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
For further updates, visit www.bespc.com.

Frequently Asked Questions

What is a class action lawsuit?

A class action lawsuit allows many individuals with similar claims against a defendant to join together and sue as a group.

What are the key allegations in the MacroGenics lawsuit?

The lawsuit alleges MacroGenics failed to disclose critical safety data, misleading investors regarding its drug’s performance and potential risks.

What sparked the Vicor class action?

Vicor is accused of misleading statements that inflated its stock value concerning significant deals that were later not disclosed, leading to significant losses for investors.

How can affected investors participate in these lawsuits?

Affected investors must contact the law firm before the lead plaintiff deadlines to participate and assert their rights legally.

Why is it important to stay informed during these legal proceedings?

Staying informed ensures that investors understand their rights and make timely decisions about legal participation and possible recovery of losses.

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