NEW YORK, March 26, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds purchasers of the common stock of Immunomedics, Inc. (Nasdaq:IMMU) between May 9, 2013 and October 9, 2013 of the important April 28, 2014 lead plaintiff deadline in the class action.
To join the Immunomedics class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., or Kevin Chan, Esq. toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit charges Immunomedics and certain of the Company's executive officers and directors, with violations of federal securities laws. According to the complaint, defendants failed to disclose and/or materially misstated in its public statements that the Company and Takeda-Nycomed were engaged in an on-going dispute regarding what Immunomedics considered to be an unacceptable delay in the development of Veltuzumab in violation of a License and Collaboration Agreement with Nycomed GmbH, whereby the Company issued Nycomed a worldwide license to develop, manufacture and commercialize one of its most advanced therapeutic compounds, Veltuzumab. Ultimately, on October 9, 2013 the Company announced that this Collaboration Agreement was terminated. When this adverse information was revealed, the lawsuit claims the value of Immunomedics stock dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than April 28, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the case, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.