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IMMU.US
id: 554, Created by Stan Vick Chase, Scout
Immunomedics Inc. (IMMU) Investors $40M Settlement
Pending settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
09 February 2018
Class period Start17 January 2019
Class period End08 June 2023
Claim deadlineHow it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
- No credit-card required
Immunomedics Inc. (IMMU) agreed to settle $40 million with investors.
For question please contact George Scott - [email protected]
The complaint claimed that during the Class Period, all Defendants made false and misleading statements or failed to disclose important information about Immunomedics. The company had a data integrity breach at its Morris Plains, New Jersey manufacturing facility which jeopardized the approval of the drug sacituzumab govitecan-hziy (also known as "IMMU-132") for patients with previously treated metastatic triple-negative breast cancer. This allegedly caused the stock prices of Immunomedics to be falsely inflated. The Individual Defendants were accused of violating §20(a) of the Securities Exchange Act of 1934, while all Defendants were accused of violating §10(b) of the same act. Defendants disputed the claims made by Lead Plaintiffs and argued that they had not broken any laws under the Exchange Act.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Case number
2:18-cv-17645-ESK
Filing date
27 December 2018
Lead plaintiff
Ahmad Odeh, Construction Industry and Laborers Joint Pension Trust, Boris Saljanin
Attorney
Robbins Geller Rudman & Dowd LLP, Block & Leviton LLP
Defendants
Michael Pehl, Michael R. Garone, Usama Malik, Behzad Aghazadeh, Peter Barton Hutt, Scott Canute, Khalid Islam, Morris Rosenberg
Court
District of New Jersey
Judge
Hon. Evelyn Padin
Administrator
JND Legal Administration
Court hearing date
15 June 2023
Exclusion deadline
25 May 2023
Objection deadline
25 May 2023
Hearing deadline
25 May 2023
+$40,000,000
Total Settlement Amount