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IMMU.US
id: 350, Created by Stan Vick Chase, Scout
Immunomedics, Inc.
Settled
02 May 2016
Class period Start24 June 2016
Class period End06 December 2022
Claim deadlineSensung Tsai, et al. v. Immunomedics, Inc., et al.
Immunomedics (IMMU) agreed to pay $4 million to settle a securities class action lawsuit.
The Complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- the abstract for IMMU-132 that Immunomedics submitted to the American Society of Clinical Oncology (“ASCO”) for presentation at the 2016 ASCO Annual Meeting contained previously disclosed results from a mid-stage study;
- Immunomedics had misrepresented to ASCO that its abstract for IMMU-132 contained only updated and previously undisclosed data;
- the foregoing misrepresentation was a violation of ASCO policy and made Immunomedics’ IMMU-132 presentation subject to removal from the 2016 ASCO Annual Meeting schedule.
Immunomedics (IMMU) agreed to settle with investors to avoid further litigation.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Lead plaintiff
Sensung Tsai
Attorney
Hagens Berman Sobol Shapiro LLP (Berkeley, CA) Lite DePalma Greenberg, LLC (Newark, NJ)
Court
District of New Jersey
Judge
Hon. Katharine S. Hayden
Administrator
Strategic Claims Services
Court hearing date
19 January 2023
+$4,000,000
Total Settlement Amount