Investor Alert: FLG investigates National Securities for insider trading of TG Therapeutics

Furgison Law Group is taking cases against National Securities related to their recommendation to purchase TG Therapeutics, despite short selling by their CEO

The securities fraud lawyers at Furgison Law Group are currently investigating claims against National Securities, National Asset Management and other related firms that sold TG Therapeutics, Inc. (subsidiary of Fortress Biotech, Inc.). Fortress also owned National through February 2019. The arbitration attorneys at Furgison Law Group are investigating claims of fraud, breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct. The claims relate to the sale of TG Therapeutics by National’s financial advisors and the alleged insider trading scheme operated by National CEO, Michael Mullen of New Jersey, as described in the recent United States District Court Southern District of New York Complaint.

Former National employee files retaliation Complaint against National claiming wrongful termination after she discovered insider trading of TG Therapeutics

According to the federal court complaint, National CEO, Michael Mullen, engaged in insider trading of Fortress subsidiary, TG Therapeutics, Inc., by selling put options, on the day TG Therapeutics announced disappointing clinical results. TG Therapeutics value dropped by 44% on the day the news was announced. However, the complaint alleges Mullen doubled his money on that same day by selling options he had purchased just twelve (12) days before the public announcement of the clinical results.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm or an unlicensed salesperson and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. Securities law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost money as a result of any TG Therapeutic or Fortress Biotech investments purchased through National Securities or National Asset Management or any other related firms, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.