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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against MGT Capital, Applied Optoelectronics, and TG Therapeutics and Encourages Investors to Contact the Firm
Globe Newswire 10-Oct-2018 7:31 PM
NEW YORK, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of MGT Capital Investments, Inc., Applied Optoelectronics, Inc., and TG Therapeutics, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
MGT Capital Investments, Inc. (OTC:MGTI)
Class Period: October 9, 2015 - September 7, 2018
Lead Plaintiff Deadline: November 27, 2018
The complaint alleges that throughout the Class Period, defendants made false and misleading statements to the market. The SEC filed a lawsuit against a former MGT Capital officer and others alleging a pump & dump scheme to artificially drive up the price of the Company's stock price. The management of MGT Capital was influenced by the scheme, ultimately resulting in the Company's stock being delisted by the New York Stock Exchange.
The Complaint alleges that, throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that certain of the company's lasers were susceptible to fail prematurely; (2) that certain of the company's transceivers utilizing these lasers would be materially affected; and (3) that, as a result of the foregoing, defendant's positive statements about the company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
The complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding TG's business and prospects. Specifically, the complaint alleges defendants failed to disclose that: (1) TG was involved in cleaning the data collected in the UNITY-CLL Trial; and (2) as a result, was able to gain an understanding as to the efficacy of the combination therapy; (3) as a result of that data cleaning, TG knew the UNITY-CLL Trial had failed to meet its stated goal; and (4) as a result, the company would not be able to seek accelerated approval; and that, given that the UNITY-CLL Trial had failed to meet its stated goal, it was highly unlikely that the combination therapy would meet its primary endpoint of increased progression free survival.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.
