MacroGenics, Inc. Class Action Lawsuit - MGNX
Case Summary
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The MacroGenics class action lawsuit seeks to represent purchasers of MacroGenics, Inc. (NASDAQ: MGNX) stock or sellers of MacroGenics puts between March 7, 2024 and May 9, 2024, inclusive (the “Class Period”). Captioned Crain v. MacroGenics, Inc., No. 24-cv-02184 (D. Md.), the MacroGenics class action lawsuit charges MacroGenics and MacroGenics’ Chief Executive Officer with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the MacroGenics class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the MacroGenics class action lawsuit must be filed with the court no later than September 24, 2024.
CASE ALLEGATIONS: MacroGenics is a biopharmaceutical company focused on discovering, developing, manufacturing, and commercializing innovative monoclonal antibody-based therapeutics for the treatment of cancer. According to the complaint, MacroGenics is engaged in the TAMARACK Phase 2 study of vobramitamab duocarmazine (“vobra duo”).
The MacroGenics class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that defendants created a materially misleading impression concerning the safety profile of vobra duo.
The MacroGenics class action lawsuit further alleges that on May 9, 2024, MacroGenics presented interim updated safety and efficacy data for its TAMARACK study, revealing that vobra duo’s adverse event rate was over 98.9% and 100% for both the 2.0 mg/kg and 2.7 mg/kg dosages, respectively, and that adverse events grade 3 or greater were over 50% for both dosages. According to the complaint, there were five fatalities, three of which are being investigated for possible links to the study. On this news, the price of MacroGenics stock fell more than 77%, according to the MacroGenics class action lawsuit.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased MacroGenics stock or sold MacroGenics puts during the Class Period to seek appointment as lead plaintiff in the MacroGenics class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the MacroGenics class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the MacroGenics class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the MacroGenics class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.