IMMU.US
id: 554
Immunomedics Inc. (IMMU) Investors $40M Settlement
D. New Jersey
Court2:18-cv-17645-ESK
Case number02/09/2018
Class period Start01/17/2019
Class period End06/08/2023
Claim deadlineFor 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.
Case Status
Disbursed
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
12/27/2018
Plaintiffs
Ahmad Odeh, Construction Industry and Laborers Joint Pension Trust, Boris Saljanin
Attorneys
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
Judge
Hon. Evelyn Padin
Administrator
JND Legal Administration
Court hearing date
06/15/2023
Exclusion deadline
05/25/2023
Objection deadline
05/25/2023
Hearing deadline
05/25/2023
Trades matching type
FIFO
Disbursement date
08/01/2024
+$40,000,000
Cash Settlement Amount