NEW YORK, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, reminds investors of the important February 25, 2019 lead plaintiff deadline in the shareholder class action lawsuit against Immunomedics, Inc. (“Immunomedics” or the “Company”) (NASDAQ: IMMU). The lawsuit seeks to recover damages on behalf of those who purchased the securities of Immunomedics between August 23, 2018 and December 20, 2018, both dates inclusive (the “Class Period”).
If you purchased Immunomedics securities, and/or would like to discuss your legal rights and options, please visit Immunomedics Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com .
According to the lawsuit, throughout the Class Period, and unbeknownst to investors, Immunomedics misled investors by stating in its SEC 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.
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 states 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.”
On this news, Immunomedics’s stock fell $0.87 per share or approximately 4.6% to close at $17.86 per share on December 17, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 25, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Immunomedics securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/immunomedics-i...stock-103/ or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com .
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Daniel Sadeh Bernstein Liebhard LLP http://www.bernlieb.com (877) 779-1414 dsadeh@bernlieb.com
