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Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against Immunomedics, Inc. for Securities Fraud Violations

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Immunomedics, Inc. (“Immunomedics”) (Nasdaq: IMMU) common stock between August 23, 2018 and December 20, 2018, inclusive (the “Class Period”).

Immunomedics investors may receive additional information about the case by clicking the link "Submit Your Information" above.


According to the complaint, Immunomedics is a clinical-stage biopharmaceutical company developing monoclonal antibody-based products for the targeted treatment of cancer. 

The Class Period commences on August 23, 2018, when Immunomedics filed its Form 10-K for the fiscal year ended June 30, 2018.

According to the complaint, on December 17, 2018, FDAnews.com published an article titled “FDA Hits Immunomedics for Data Integrity Breach.” According to this article, “[t]he FDA cited Immunomedics for a host of violations - including its handling of a data integrity breach - observed at its Morris Plains, New Jersey, drug substance manufacturing facility between August 6 and 14.” The article stated that this breach included “manipulated bioburden samples, misrepresentation of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results.”  Following the publication of the FDAnews.com article, Immunomedics shares fell from an opening price of $18.54 to close at $17.86, a decline of 4%.

Then, on December 20, 2018, Favus Institutional Research issued a report (the “Favus Report”) discussing the data integrity breach.  Following the Favus Report, Immunomedics’ stock price fell from $17.64 at close on December 19, 2018 to $14.17 at close on December 20, 2018, a drop of 20%.

If you are a member of the class described above, you may no later than February 25, 2019 move the Court to serve as lead plaintiff of the class, if you so choose.


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form relating to your transactions for Immunomedics, Inc. (Nasdaq: IMMU) common stock between August 23, 2018 and December 20, 2018, inclusive (the “Class Period”).

Once completed, please click the orange “Submit Your Information” button at the bottom of this page. You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 888.299.7706, or you may submit your information via email at info@ktmc.com.

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# of Shares
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Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
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Did you purchase shares of Immunomedics, Inc. prior to the Class Period?
Are you a current or former employee of Immunomedics, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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