NEW YORK, June 29, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Inotiv, Inc. (NASDAQ: NOTV), TG Therapeutics, Inc. (NASDAQ: TGTX), Allianz SE (OTCMKTS: ALIZY), and Outset Medical, Inc. (NASDAQ: OM). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Inotiv, Inc. (NASDAQ: NOTV)
On May 20, 2022, Inotiv disclosed in a filing with the U.S. Securities and Exchange Commission that "[o]n May 18, 2022, the U.S. Department of Justice (‘DOJ'), together with federal and state law enforcement agents, executed a search and seizure warrant on" a Cumberland, Virginia facility of Inotiv's subsidiary Envigo RMS, LLC ("Envigo"). Inotiv further disclosed that "[o]n May 19, 2022, a complaint was filed against Envigo in the U.S. District Court for the Western District of Virginia. The complaint is a civil action by DOJ alleging violations of the Animal Welfare Act at the Cumberland, Virginia facility. The complaint seeks declaratory and injunctive relief and costs."
On this news, Inotiv's stock price fell $5.19 per share, or 28.31%, to close at $13.14 per share on May 23, 2022.
For more information on the Inotiv investigation go to: https://bespc.com/cases/NOTV
TG Therapeutics, Inc. (NASDAQ: TGTX)
On November 30, 2021, TG Therapeutics issued a press release "announc[ing] the U.S. Food and Drug Administration (FDA) has notified the Company that it plans to host a meeting of the Oncologic Drugs Advisory Committee (ODAC) in connection with its review of the pending Biologics License Application (BLA)/supplemental New Drug Application (sNDA) for the combination of ublituximab and UKONIQ® (umbralisib) (combination referred to as U2) for the treatment of adult patients with chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL)." TG Therapeutics advised that "[t]he FDA has notified the Company that potential questions and discussion topics for the ODAC include: the benefit-risk of the U2 combination in the treatment of CLL or SLL, and the benefit-risk of UKONIQ in relapsed/refractory marginal zone lymphoma (MZL) or follicular lymphoma (FL). In addition, as part of the benefit-risk analysis, the overall safety profile of the U2 regimen, including adverse events (serious and Grade 3-4), discontinuations due to adverse events, and dose modifications, is expected to be reviewed", stating that "[t]he FDA's concern giving rise to the ODAC meeting appears to stem from an early analysis of overall survival from the UNITY-CLL trial."
On this news, TG Therapeutics' stock price fell $8.16 per share, or 34.93%, to close at $15.20 per share on November 30, 2021.
For more information on the TG Therapeutics investigation go to: https://bespc.com/cases/TGTX
Allianz SE (OTCMKTS: ALIZY)
On August 1, 2021, Allianz disclosed that “the U.S. Department of Justice (‘DOJ’) has begun an investigation concerning the Structured Alpha Funds,” and that “there is a relevant risk that the matters relating to the Structured Alpha Funds could materially impact future financial results of Allianz Group.”
On this news, Allianz’s stock price fell $2.00 per share, or 8%, to close at $22.85 per share on August 2, 2021.
Then, on May 17, 2022, Allianz pleaded guilty to securities fraud, admitting that it lacked internal controls and oversight for a series of private-investment funds and made false and misleading statements to investors. The Company agreed to pay $6 billion in penalties and restitution.
On this news, Allianz’s stock price fell $4.54 per share, or 2.1%, to close at $208.00 on May 18, 2022.
For more information on the Allianz investigation go to: https://bespc.com/cases/ALIZY
Outset Medical, Inc. (NASDAQ: OM)
Outset provided guidance for the second quarter of 2022 as part of a June 13, 2022 press release. The Company announced that it had “implemented a shipment hold on the distribution of its Tablo Hemodialysis System for home use pending the Food and Drug Administration’s (“FDA”) review and clearance of a 510(k) the Company submitted for changes made since the device’s original March 2020 clearance.”
Based on this news, shares of Outset fell by more than 34% on June 14, 2022.
For more information on the Outset Medical investigation go to: https://bespc.com/cases/OM
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
