The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of New Jersey on behalf of investors who purchased Immunomedics, Inc. (NASDAQ: IMMU) securities between April 20, 2016 and June 2, 2016.
According to the complaint, throughout the class period defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the Company’s abstract for antibody-drug IMMU-132 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; (2) Immunomedics misrepresented to ASCO that the abstract for IMMU-132 contained only updated and previously undisclosed data; (3) the foregoing misrepresentation was a violation of ASCO policy and made the IMMU-132 presentation subject to removal from the 2016 ASCO Annual Meeting schedule; and (4) as a result, Immunomedics’ public statements were materially false and misleading at all relevant times.
If you suffered a loss in Immunomedics you have until August 8, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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