TG Therapeutics Inc. (fka Manhattan Pharmaceuticals) Securities Investigation
Are you concerned about your investment losses in TG Therapeutics Inc.?
The White Law Group is investigating potential securities fraud lawsuits involving the liability that brokerage firms may have for unsuitably recommending TG Therapeutics Inc. to investors.
According to its website, TG Therapeutics, Inc. (Nasdaq:TGTX) is a clinical-stage biopharmaceutical company focused on the acquisition, development and commercialization of pharmaceutical products for the treatment of cancer and other therapeutic needs.
According to SEC filings, TG Therapeutics filed a Form D to raise capital from investors in 2012 and then in July 2013, the company reportedly announced the pricing of an underwritten public offering of 5,700,000 shares of its common stock at a price of $6.15 per share.
Deep Decline in Share Price
According to Yahoo finance, the company’s share price was down a total of 57%, against a market gain of about 3.5%, as of March 2019 for the prior 12 months period.
Last September, the company’s share price reportedly declined 44% after disappointing results in the company’s Unity-CLL clinical trial. According to reports, the problem stems from Unity-CLL’s inability to show an improvement in overall response among chronic lymphocytic leukaemia (CLL) patients given TG’s combo at interim review. This was the result that TG had instructed the markets to look for, saying a positive result might have served as the basis for immediate US accelerated approval filing.
Free Consultation with a Securities Fraud Attorney
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Firms may be held responsible for any losses in a FINRA arbitration claim if they fail to perform active due diligence before recommending any investment.
If you have suffered losses in TG Therapeutics, the securities attorneys at The White Law Group may be able to help you. Please call the offices at 888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.