NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, P.A., a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Immunomedics, Inc. (NASDAQ:IMMU) resulting from allegations that Immunomedics may have issued materially misleading business information to the investing public.
On June 2, 2016, after the market closed, media outlets reported that the American Society of Clinical Oncology (“ASCO”) had removed a scheduled presentation by Immunomedics regarding the Company’s IMMU-132 breast cancer drug from ASCO’s annual meeting. ASCO stated that Immunomedics misrepresented that the Company’s abstract for IMMU-132 contained updated and previously undisclosed results from a mid-stage study, when in fact the IMMU-132 data that Immunomedics submitted was old and had been seen previously.
On this news, shares of Immunomedics have fallen more than $0.88, or 16% per share from its previous closing price of $5.30 per share on June 2, 2016, damaging investors.
The Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Immunomedics investors. If you purchased shares of Immunomedics on or before June 2, 2016, please visit the website at http://rosenlegal.com/cases-906.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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