MacroGenics(US:MGNX) Prnewswireยท2024-08-21 14:08Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against MacroGenics, Inc. due to allegations of violations of federal securities laws related to misleading statements about the safety of its drug vobramitamab duocarmazine, leading to significant investor losses [2][4]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $75,000 in MacroGenics between March 7, 2024, and May 9, 2024, to discuss their legal options [1]. - There is a deadline of September 24, 2024, for investors to seek the role of lead plaintiff in a federal securities class action against MacroGenics [2]. - The complaint alleges that MacroGenics and its executives made false or misleading statements and failed to disclose critical safety data from the TAMARACK Phase 2 study [4]. Group 2: Stock Performance Impact - Following the revelation that the drug was significantly more dangerous than previously represented, MacroGenics' stock declined by 77.4%, equating to a drop of $11.36 per share [4]. Group 3: Firm Background and Contact Information - Faruqi & Faruqi, LLP has recovered hundreds of millions of dollars for investors since its founding in 1995 and has offices in multiple states [3]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding MacroGenics' conduct [6].