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Case Status:    ONGOING    
On or around 10/05/2018 (Ongoing date of last review)

Filing Date: October 04, 2018

Plaintiff's law firm issued a press release on October 4, 2018, announcing the lawsuit. According to the press release, the Complaint charges TG Therapeutics, Inc. ("TG" or the "Company") and its Chief Executive Officer with violations of the Securities Exchange Act of 1934. TG is a developmental biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. The Company is developing two therapies targeting hematologic malignancies: TG-1101 (ublituximab), a glycoengineered monoclonal antibody that targets a unique epitope on the CD20 antigen found on mature B-lymphocytes, and TGR-1202 (umbralisib), an orally available PI3K delta inhibitor. During the Class Period, TG was engaged in a randomized controlled Phase 3 trial to evaluate TG-1101 in combination with TGR-1202 for patients with front-line and previously treated Chronic Lymphocytic Leukemia (“CLL”), known as the UNITY-CLL Trial.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding TG’s business and prospects. Specifically, the Complaint alleges Defendants failed to disclose that TG was involved in cleaning the data collected in the UNITY-CLL Trial and, as a result, was able to gain an understanding as to the efficacy of the combination therapy; that, as a result of that data cleaning, TG knew the UNITY-CLL Trial had failed to meet its stated goal, and that, as a result, the Company would not be able to seek accelerated approval; and that, given that the UNITY-CLL Trial had failed to meet its stated goal, it was highly unlikely that the combination therapy would meet its primary endpoint of increased progression free survival – in other words, the drug therapy had failed. As a result of Defendants’ false statements and/or omissions, the price of TG common stock was artificially inflated during the Class Period.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TGTX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 18-CV-09104
JUDGE: Hon. Katherine Polk Failla
DATE FILED: 10/04/2018
CLASS PERIOD START: 06/04/2018
CLASS PERIOD END: 09/25/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Johnson Fistel, LLP (Marietta)
    40 Powder Springs Street, Johnson Fistel, LLP (Marietta), GA 30064
    770.200.3104 770.200.3104 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date