NEW YORK, June 3, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Immunomedics Inc. ("Immunomedics" or the "Company") (NASDAQ: IMMU). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Immunomedics and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 2, 2016, after the market closed, media outlets reported that the American Society of Clinical Oncology ("ASCO") had removed a scheduled presentation by Immunomedics regarding the Company's IMMU-132 breast cancer drug from ASCO's annual meeting. ASCO stated that Immunomedics had misrepresented that the Company's abstract for IMMU-132 contained updated and previously undisclosed results from a mid-stage study, when in fact the IMMU-132 data that Immunomedics submitted were old and previously seen.
On this news, Immunomedics stock has fallen more than $0.80, or 15%, to $4.49 pre-market on June 3, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP