Core Viewpoint - Telix Pharmaceuticals Ltd. is facing a securities class action lawsuit due to regulatory setbacks and significant stock declines over the summer of 2025 [1] Summary by Sections Lawsuit Details - The lawsuit, titled Thomas v. Telix Pharmaceuticals Ltd., aims to represent investors who acquired the company's securities between February 21, 2025, and August 28, 2025 [3] - The complaint alleges that the company and its executives made false and misleading statements about the business, inflating the company's valuation before the truth was revealed [3] Core Allegations - The lawsuit claims that Telix violated the Securities Exchange Act of 1934 by failing to disclose: - Overstated therapeutic progress regarding prostate cancer therapeutic candidates TLX591 and TLX592 [4] - Misrepresentation of the stability, quality, and regulatory compliance of its third-party supply chain and manufacturing partners [5] Regulatory Events Impacting Stock - Two key events led to a significant decline in Telix's American Depositary Shares (ADSs): - SEC Subpoena (July 22, 2025): The company disclosed receiving a subpoena from the SEC, leading to a stock price drop of over 13% in two trading sessions [6] - FDA Rejection (August 28, 2025): Telix received a Complete Response Letter from the FDA for TLX250-CDx, resulting in a further decline of more than 21% in two trading sessions [7][8] Class Action and Investigation - The class action litigation is filed in the U.S. District Court for the Southern District of Indiana, seeking damages for investors who suffered losses due to the alleged securities fraud [10] - Hagens Berman is investigating the claims, focusing on discrepancies between the company's assurances and the regulatory revelations [11]
Telix Pharmaceuticals (TLX) Faces Securities Class Action After Alleged Misstatements on Prostate Cancer Drug Progress and Supply Chain Reliability-- Hagens Berman