PR Newswire | Aug 20, 2020 07:21PM EDT

Dismiss; Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel

08/20 18:20 CDT

(IMMU) Alert: Shareholder Class Action Against Immunomedics Survives Motion to Dismiss; Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel SAN DIEGO, Aug. 20, 2020

SAN DIEGO, Aug. 20, 2020 /PRNewswire/ -- Johnson Fistel, LLP is investigating potential claims on behalf of Immunomedics Inc. (NASDAQ: IMMU) ("Immunomedics" or the "Company") against certain of its officers and directors. Specifically, a class-action lawsuit pending in the United States District Court for the District of New Jersey against Immunomedics and certain of its current and former officers recently survived certain defendants' attempts to have the case dismissed.

The case alleges that defendants misled investors by failing to disclose that the Company's Morris Plains, New Jersey manufacturing facility had suffered a serious data integrity breach, and that the FDA found Immunomedics manipulated bioburden samples, misrepresented an integrity test procedure in the batch record, and backdated batch records, including the dates of analytical results. As the true facts about the data integrity breach were disclosed, Immunomedics suffered market capitalization losses in excess of $1 billion, damaging investors who purchased the stock during the February 9, 2018 to January 17, 2019 class period.

If you are a current, long-term shareholder ofImmunomedicsholding shares beforeFebruary 9, 2018, you may have standing to hold Immunomedics harmless from the alleged harm caused by the officers and directors of the Company by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If youare interested in learning more about the investigation, please contactlead analystJim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.

Additionally, if you have owned shares ofImmunomedicssince beforeFebruary 9, 2018, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471 jimb@johnsonfistel.com

[Click here to join this action]

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SOURCE Johnson Fistel, LLP