NEW YORK, Jan. 10, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York against TG Therapeutics, Inc. (NASDAQ: TGTX ). The filed complaint is brought on behalf of all purchasers of TG Therapeutics securities between September 15, 2014 and October 12, 2016, inclusive (“Class Period”).
Investors who have incurred losses in shares of TG Therapeutics, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may also review the filed complaint and obtain additional information concerning the action on our website, www.whafh.com.
If you purchased shares of TG Therapeutics, Inc. within the class period and would like to become involved in assisting the litigation process, you may, no later than March 7, 2017 , request that the Court appoint you lead plaintiff of the proposed class.
According to the filed complaint , on September 17, 2015, TG Therapeutics announced that it had reached an agreement with the U.S. Food and Drug Administration ("FDA") regarding a Special Protocol Assessment on the design of a Phase 3 clinical trial for TG-1101 and TGR-1202. The purpose of the Phase 3 trial, referred to as the GENUINE trial, was to show that TG-1101 could show an improvement in overall response rate and progression-free survival ("PFS") in 330 previously-treated patients with certain cancer cell mutations. The complaint alleges that TG Therapeutics officials omitted material information concerning the Phase 3 trial, assuring investors that it was a "best-in-class" treatment that would be "successful" and "offer patients a novel chemo-free treatment option." In addition, TG Therapeutics allegedly failed to implement a proper screening protocol in the GENUINE enrolling sites and was not enrolling patients at the required rate for the study to be completed on time. Finally, contrary to the company's representations, the trial would never get 330 enrolled patients and PFS was not an achievable endpoint.
On October 13, 2016, TG Therapeutics issued a press release announcing that it had filed with the FDA an amended protocol for the GENUINE Phase 3 trial, stating, " The GENUINE study, as amended, remains a robust, randomized clinical trial, which we believe, if positive, could support accelerated approval for patients with relapsed/refractory high-risk [Chronic Lymphocytic Leukemia]." That same day, TheStreet published an article stating that TG Therapeutics had long suffered from a management credibility problem. The article further pointed out that the company cut planned enrollment for the GENUINE trial by one-third, eliminated important efficacy endpoints, and generally exposed the company to more risk.
On this news, TG Therapeutics' stock declined by approximately 27% to close at $6.01 per share on October 17, 2016.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com.
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4708
