SAN FRANCISCO, CA--(Marketwired - August 01, 2016) - Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Immunomedics, Inc. (NASDAQ: IMMU) investors of the August 8, 2016 Lead Plaintiff deadline in the securities class action filed in the United States District Court for the District of New Jersey.
If you purchased or otherwise acquired shares of Immunomedics between April 20, 2016 and June 3, 2016 and suffered over $75,000 in losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm's investigation by calling 510-725-3000 or emailing IMMU@hbsslaw.com.
The litigation concerns Defendants' statements about Immunomedics' presentation of data about its triple-negative breast cancer drug ("IMMU-132") at the closely-watched June 2016 annual meeting of the American Society of Clinical Oncology ("ASCO").
More specifically, in violation of ASCO rules, Immunomedics attempted to present previously-disclosed data about its drugs. Despite Defendants' public statements that they would present updated data about IMMU-132 to ASCO, Defendants nonetheless attempted to sneak old data into the presentation. Before its annual meeting, ASCO discovered Defendants' attempt to flout ASCO rules and excluded Immunomedics' presentation. In response, Immunomedics' common stock price fell nearly 15% to close at $4.52 on June 3, 2016.
The Company subsequently announced, on June 21, 2016, the resignation and replacement of its Chief Financial Officer.
"Investors look to the ASCO meeting for the latest developments and newest clinical data on experimental cancer drugs," said Hagens Berman partner Reed Kathrein. "Defendants' attempt to re-present IMMU-132 data was at odds with what they told investors."
Whistleblowers: Persons with non-public information regarding Immunomedics should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email IMMU@hbsslaw.com.
About Hagens Berman
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