TG investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, TG is a developmental biopharmaceutical company focused on the acquisition, development and commercialization of novel treatments for B-cell malignancies and autoimmune diseases. TG is currently developing two therapies targeting hematologic malignancies. TG-1101 (ublituximab) is a glycoengineered monoclonal antibody that targets a unique epitope on the CD20 antigen found on mature B-lymphocytes. TG is also developing TGR-1202 (umbralisib), an orally available PI3K delta inhibitor. This lawsuit concerns TG’s UNITY-CLL Trial, a randomized controlled Phase 3 trial under Special Protocol Assessment evaluating TG-1101 in combination with TGR-1202, TG’s development stage PI3K delta inhibitor, for patients with front line and previously treated Chronic Lymphocytic Leukemia.
In May 2017, TG announced that the independent Data Safety Monitoring Board (“DSMB”) of the UNITY-CLL Phase 3 trial had successfully completed a pre-specified interim analysis to assess the contribution of TG-1101 and TGR-1202 in the combination regimen of TG-1101 plus TGR-1202.
In September 2017, TG announced that target enrollment in the UNITY-CLL trial was met and that it was extending enrollment until October 12, 2017 for any additional identified study patients to be allowed in the trial. TG also announced that it expected to report top-line overall response rate (“ORR”) data from this study to be reported in 2018.
The complaint alleges that, on September 25, 2018, TG announced that it wouldn’t be releasing the data from the UNITY-CLL study and that it had failed to meet the ORR stated goal. TG issued a press release announcing that the DSMB met to review ongoing data from the UNITY-CLL study and advised TG that the interim analysis of the ORR could not be conducted at this time because the data was not sufficiently mature to conduct the analysis. Following this news, the price of TG stock declined from $9.25 per share to $5.15 per share on heavy trading volume.
The complaint alleges that during the Class Period, the defendants made false and misleading statements and engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of TG common stock and operated as a fraud or deceit on Class Period purchasers of TG common stock by misrepresenting the company’s business and prospects.
If you are a member of the class described above, you may no later than December 3, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
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