Faruqi & Faruqi Reminds MacroGenics Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of September 24, 2024 - MGNX

PRNewswire 17-Sep-2024 10:20 AM

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In MacroGenics To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $75,000 in MacroGenics between March 7, 2024 to May 9, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against MacroGenics, Inc. ("MacroGenics" or the "Company") (NASDAQ:MGNX) and reminds investors of the September 24, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine.

On May 9, 2024, the investing public learned that the drug was significantly more dangerous than defendants had previously represented.

Following this news, MGNX's stock declined 77.4% due to a drop of $11.36/share.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding MacroGenic's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the MacroGenics class action, go to www.faruqilaw.com/MGNX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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SOURCE Faruqi & Faruqi, LLP