Investor Alert: Kaplan Fox Announces Investigation Of Immunomedics, Inc.

NEW YORK, Jan. 8, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors in Immunomedics, Inc. ("Immunomedics" or the "Company") (NASDAQ: IMMU).  Investors who purchased Immunomedics common stock between August 23, 2018 and December 20, 2018, inclusive (the "Class Period") may be affected.  A complaint has been filed in the United States District Court for the District of New Jersey against Immunomedics, the Company's President and CEO, and its CFO on behalf of investors in Immunomedics common stock during the Class Period.

According to the complaint, on December 17, 2018, FDAnews.com published an article entitled "FDA Hits Immunomedics for Data Integrity Breach."  According to the 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 further stated that this breach included "manipulated bioburden samples, misrepresentations of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results." 

On December 17, 2018, Immunomedics shares fell $0.87 per share, or more than 4.6%, to close at $17.86 per share.

Then, on December 20, 2018, according to the complaint, Favus International Research issued a report (the "Favus Report") discussing the data integrity breach. 

Following the publication of the Favus Report, Immunomedics' shares fell $3.47 per share, or about 19.7%, to close at $14.17 per share on December 20, 2018.

If you are a member of the proposed Class, you may move the court no later than February 25, 2019 to serve as a lead plaintiff for the purported class.  You need not seek to become a lead plaintiff in order to share in any possible recovery.  If you would like to discuss the complaint or our investigation, please contact us by emailing [e-mail] or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, the action, your rights, or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
[phone]
[phone]
Fax: [phone]
E-mail: [e-mail]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
[phone]
Fax:  [phone]
E-mail: [e-mail]

 

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SOURCE Kaplan Fox & Kilsheimer LLP