SHAREHOLDER ALERT: Immunomedics, Inc. (NASDAQ: IMMU)
(ShareholderAlert.com) — Shareholder Alert, a free shareholder news & information service announces that class actions have commenced on behalf of shareholders of Immunomedics, Inc. (NASDAQ: IMMU). If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found below.
Immunomedics, Inc. (NASDAQ: IMMU)
Class Period: August 23, 2018 – December 20, 2018
Lead Plaintiff Deadline: February 25, 2019
The complaint alleges that throughout the class period defendants made false and/or misleading statements, as well as failed to disclose material adverse facts. 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’ share price fell $0.87, or approximately 4.6%, to close at $17.86 per share on December 17, 2018, thereby injuring investors.