(IMMU) Alert: Shareholder Class Action Against Immunomedics Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel

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Aug 20, 2020, 19:20 ET

SAN DIEGO, Aug. 20, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Immunomedics Inc. (NASDAQ: IMMU) ("Immunomedics" or the "Company") against certain of its officers and directors. Specifically, a class-action lawsuit pending in the United States District Court for the District of New Jersey against Immunomedics and certain of its current and former officers recently survived certain defendants' attempts to have the case dismissed.

The case alleges that defendants misled investors by failing to disclose that the Company's Morris Plains, New Jersey manufacturing facility had suffered a serious data integrity breach, and that the FDA found Immunomedics manipulated bioburden samples, misrepresented an integrity test procedure in the batch record, and backdated batch records, including the dates of analytical results. As the true facts about the data integrity breach were disclosed, Immunomedics suffered market capitalization losses in excess of $1 billion, damaging investors who purchased the stock during the February 9, 2018 to January 17, 2019 class period.

If you are a current, long-term shareholder of Immunomedics holding shares before February 9, 2018, you may have standing to hold Immunomedics harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If you are interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

Additionally, if you have owned shares of Immunomedics since before February 9, 2018, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

[Click here to join this action]

SOURCE Johnson Fistel, LLP