||United States District Court for the District of New Jersey
||The Hon. Madeline Cox Arleo
||February 9, 2018 - January 17, 2019
On December 27, 2018, the initial complaint in this securities class action was filed against Immunomedics, Inc. (“Immunomedics”), and certain of Immunomedics’s directors and officers, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act.
The complaint alleged that during the class period, the defendants made false and/or misleading statements, as well as failed to disclose material adverse facts. During the class period, and unbeknownst to investors, Immunomedics misled investors by stating in its United States Securities and Exchange Commission filings beginning on August 23, 2018, that, "the FDA generally will issue a notice on Form 483 if it finds issues with respect to its inspections" without disclosing to investors the fact that between August 6, 2018, and August 14, 2018 the FDA cited Immunomedics for a host of violations observed at its Morris Plains, New Jersey drug substance manufacturing facility. These violations 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.
This is a federal securities class action brought on behalf of a class of those who purchased or otherwise acquired Immunomedics common stock between February 9, 2018 and January 17, 2019, inclusive.
Current Status of Case:
On November 18, 2019, Plaintiffs filed a consolidated complaint (the “Complaint”). Defendants filed a Motion to Dismiss the Complaint on January 17, 2020. On July 31, 2020, the Court denied the Defendants' Motion to Dismiss. On July 19, 2021, Plaintiff filed an amended complaint (the “Amended Complaint”). Defendants filed an Answer to the Amended Complaint on August 18, 2021. On April 11, 2022, the Court issued a Scheduling Order directing Plaintiffs to file their Motion for Class Certification by June 2, 2022, and Defendants to file their Opposition to the Motion for Class Certification by July 7, 2022. This action is still ongoing.
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: Jon Naji, Esq. (484) 270-1453; or via e-mail at firstname.lastname@example.org. 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.