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TG Therapeutics Inc (NASDAQ: TGTX) Investor Securities Class Action Lawsuit 01/06/2016

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Lawsuit Overview

Case Dismissed
Company
TG Therapeutics Inc
Security
NASDAQ: TGTX

Case Name
TG Therapeutics Shareholder Class Action Lawsuit 01/06/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 5, 2017 - The court granted the notice of voluntary dismissal.

April 3, 2017 - A notice of voluntary dismissal was filed.

January 6, 2017 - An investor in shares of TG Therapeutics Inc (NASDAQ: TGTX) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by TG Therapeutics Inc in connection with certain allegedly false and misleading statements made between September 15, 2014 and October 12, 2016.

New York based TG Therapeutics Inc is a biopharmaceutical company focused on the acquisition, development and commercialization of treatments for b-cell malignancies and autoimmune diseases. Shares of TG Therapeutics Inc (NASDAQ: TGTX) grew from $5.49 per share in August 2016 to as high as $9.33 per share on October 10, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of TG Therapeutics Inc (NASDAQ: TGTX) common shares between September 15, 2014 and October 12, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 15, 2014 and October 12, 2016 TG Therapeutics Inc alegedly 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.

On October 13, 2016, TG Therapeutics Inc that it had filed with the FDA an amended protocol for its leukemia drug combination, GENUINE Phase 3 Trial. In the amendments, the Company eliminated part II of the GENUINE study and reduced the number of randomized patients from 200 to approximately 120. The Company no longer benefits from of its previously negotiated Special Protocol Assessment with the FDA.

Shares of TG Therapeutics Inc (NASDAQ: TGTX) declined to as low as $6.54 per share on October 14, 2016.