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SAN FRANCISCO, Nov. 05, 2019 (GLOBE NEWSWIRE) -- Hagens Berman urges MacroGenics (NASDAQ: MGNX) investors who have suffered losses in excess of $50,000 to submit their loss now to learn if they qualify to recover their investment losses. The November 12, 2019 lead plaintiff deadline in a securities fraud class action pending against the company is approaching.
MacroGenics (MGNX) Securities Class Action:
According to the Complaint, Defendants concealed adverse information obtained during MacroGenics’ clinical trial evaluating Margetuximab, a potential breast cancer treatment. Specifically, as early as October 2018, Defendants knew but omitted to disclose that (1) the progression-free survival (“PFS”) of patients in the trial was negligible, and (2) the overall survival (“OS”) was not statistically significant. The market learned the truth on June 4, 2019, when MacroGenics disclosed the lackluster PFS and OS results. This news drove the price of MGNX shares sharply lower that day.
If you invested in MacroGenics between Feb. 6, 2019 and June 3, 2019 and suffered significant losses (in excess of $50,000) you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. Contact Hagens Berman immediately to obtain additional information about this case or being a lead plaintiff.
“We are focused on investors’ losses and the extent to which Defendants’ statements may have been misleading,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding MacroGenics should consider their options to help in the investigation or take advantage of the SEC whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email MGNX@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000