The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of TG Therapeutics, Inc. (NASDAQ: TGTX) who purchased shares between January 15, 2020 and May 31, 2022. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the TG Therapeutics lawsuit alleges that (i) clinical trials revealed significant concerns related to the benefit-risk ratio and overall survival data of the Company’s therapeutic product candidates, Ublituximab and Umbralisib; (ii) accordingly, it was unlikely that the Company would be able to obtain approval from the U.S. Food and Drug Administration of the Umbralisib marginal zone lymphoma and follicular lymphoma New Drug Application, the Biologics License Application for Ublituximab in combination with Umbralisib, the supplemental New Drug Application for Ublituximab in combination with Umbralisib, or the Ublituximab relapsing forms of multiple sclerosis Biologics License Application in their current forms; (iii) as a result, the Company had significantly overstated Ublituximab and Umbralisib’s clinical and/or commercial prospects; and (iv) therefore, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until September 16, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.