BOSTON, Dec. 27, 2018 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, announces that it has filed a securities fraud class action against Immunomedics, Inc. ("Immunomedics" or the "Company") (NASDAQ: IMMU) and certain of its officers and/or directors. The firm encourages shareholders to contact Block & Leviton LLP ahead of the February 25, 2019 lead plaintiff deadline.
The Complaint, filed in the United States District Court for the District of New Jersey, captioned Odeh v. Immunomedics, Inc. et al., Case No. 2:18-cv-17645, alleges that between August 23, 2018 and December 20, 2018, inclusive (the "Class Period"), Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts. As alleged in the Complaint, 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." The case is pending in the District of New Jersey, Newark Courthouse, 50 Walnut Street, Newark, NJ 07101. The case has been assigned to Judge Madeline Cox Arleo.
Following this news, Immunomedics stock price dropped from $17.64 at close on December 19, 2018, to $14.17 at close on December 20, 2018.
If you have purchased or otherwise acquired Immunomedics securities and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Block & Leviton LLP at (617) 398-5660, (888) 868-2385, by email at email@example.com, or by visiting http://shareholder.law/immunomedics.
Block & Leviton LLP was ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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