Immunomedics, Inc. (NASDAQ: IMMU) Investor Securities Class Action Lawsuit 12/27/2018

If you purchased a significant amount of shares of Immunomedics, Inc. (NASDAQ: IMMU) between August 23, 2018 and December 20, 2018, and / or if you purchased any NASDAQ: IMMU shares prior to August 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: February 25, 2019. NASDAQ: IMMU investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Immunomedics
Case Name: 
Immunomedics Shareholder Class Action Lawsuit 12/27/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: IMMU
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/27/2018
Class Period Begin: 
08/23/2018
Class Period End: 
12/20/2018
Court of Filing: 
U.S. District Court for the District of New Jersey
Deadline To File for Lead: 
02/25/2019
Summary: 

An investor in shares of Immunomedics, Inc. (NASDAQ: IMMU) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Immunomedics, Inc. in connection with certain allegedly false and misleading statements made between August 23, 2018 and December 20, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Immunomedics, Inc. (NASDAQ: IMMU) common shares between August 23, 2018 and December 20, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 23, 2018 and December 20, 2018, the Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts.

Morris Plains, NJ based Immunomedics, Inc. a clinical-stage biopharmaceutical company, develops monoclonal antibody-based products for the targeted treatment of cancer.
Immunomedics, Inc. reported that its Total Revenue declined from $3.09 million for the 12 months period that ended on June 30, 2017 to $2.15 million for the 12 months period that ended on June 30, 2018 and that its Net Loss increased over those time periods from $153.2 million to $273.83 million.

Shares of Immunomedics, Inc. (NASDAQ: IMMU) reached as high as $26.76 per share in August 2018.

On December 17, 2018, FDAnews.com published an article entitled “FDA Hits Immunomedics for Data Integrity Breach.” The article reported, in part, that “the 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.”

Shares of Immunomedics, Inc. (NASDAQ: IMMU) declined to as low as $12.86 per share on December 20, 2018.