Telix Pharmaceuticals Ltd (ASX:TLX) shares are down 4.3% to $14.34 in pre-midday trading after the company was hit with a series of class actions in the United States.
As reported by The Australian's Trading Day column, US law firms Berger Montague PC, Pomerantz LLP, Glancy Prongay & Murray LLP, DiCello Levitt, The Law Offices of Howard G Smith and Rosen Law Firm have each filed class actions on behalf of Telix investors who bought its Nasdaq-listed American Depositary Shares (ADS) between February 21 and August 28 this year.
The suits allege Telix made false or misleading statements and/or failed to disclose that it had overstated progress on its prostate cancer therapeutic candidates and overstated the strength of its supply chain and commercial partners. The company and certain former and current senior executive officers are also accused of breaching US federal securities laws.
Telix’s ADS closed 2% lower at $US9.51 on Nasdaq in the latest session, in line with a weaker Wall Street.
About the suits
US firms Berger Montague PC, Pomerantz LLP, Glancy Prongay & Murray LLP, DiCello Levitt, The Law Offices of Howard G Smith and Rosen Law Firm lodged separate suits on behalf of Telix investors who purchased its Nasdaq-listed American Depositary Shares between February 21 and August 28 this year.
Berger Montague alleges Telix made false or misleading statements and/or failed to disclose that it had overstated progress on its prostate cancer therapeutic candidates and overstated the quality of its supply chain and partners, rendering statements about its business, operations and prospects “false, misleading, or [lacking] a reasonable basis”.
Glancy Prongay & Murray notes that on July 22, 2025, Telix revealed it had received a subpoena from the US Securities and Exchange Commission seeking documents and information primarily related to disclosures on the development of its prostate cancer therapeutic candidates. Telix’s US stock fell 10.4% to close at $US14.58 on July 23 “thereby injuring investors”, the firm says.