NEW YORK, June 16, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Immunomedics, Inc. (Nasdaq:IMMU) (“Immunomedics” or the “Company”) securities during the period between April 20, 2016 and June 3, 2016, inclusive (the “Class Period”).
Shareholders who have purchased Immunomedics, Inc. common stock within the class period and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Immunomedics, Inc. and suffered a loss, you may request that the Court appoint you lead plaintiff of the proposed class no later than August 8, 2016.
The filed complaint accuses the defendants of violations of the failure to disclose during the Class Period that the abstract for the antibody-drug, conjugate sacituzumab govitecan IMMU-132 (“IMMU-132”), that Immunomedics submitted to the American Society of Clinical Oncology (“ASCO”) for presentation at the 2016 ASCO Annual Meeting, contained previously disclosed results from a mid-stage study; that the Company had misrepresented to ASCO that its abstract for IMMU-132 contained only updated and previously undisclosed data; and that as a result, the Company was in violation of ASCO’s policy, which made Immunomedics’ IMMU-132 presentation subject to removal from the presentation schedule.
On June 2, 2016, ASCO removed a scheduled conference presentation by Immunomedics regarding IMMU-132. The Company had misrepresented to ASCO that the abstract contained updated and previously undisclosed results from a mid-stage study, when in fact the data was old and previously seen. On this news, the value of Immunomedics shares declined significantly.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. You may also follow the firm and learn about our newly filed cases on Twitter and Facebook.
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