Hagens Berman Alerts Immunomedics, Inc. (NASDAQ: IMMU) Investors of Investigation Into Company’s ASCO Rule Violation
San Francisco - The following statement is being issued by Hagens Berman Sobol Shapiro LLP:
Hagens Berman is investigating Immunomedics, Inc. (NASDAQ: IMMU) (“Immunomedics” or the “Company”) for potential violations of the securities laws.
If you suffered significant losses in Immunomedics, contact Hagens Berman Sobol Shapiro LLP partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing IMMU@hbsslaw.com or visiting https://www.hbsslaw.com/cases/IMMU .
The investigation concerns June 2 and 3, 2016 reports the Company was caught trying to sneak old, previously presented clinical data on its triple-negative breast cancer drug IMMU-132 into the annual meeting of the American Society of Clinical Oncology (“ASCO”). For that transgression, ASCO barred Immunomedics from presenting at the most prestigious and closely watched cancer conference of the year. On this news the price of Immunomedic’s common stock fell nearly 15% to close at $4.52 on June 3, 2016.
“Unbeknownst to investors and ASCO, Immunomedics apparently tried to present old and previously presented IMMU-132 breast cancer data,” said Hagens Berman partner Reed Kathrein. “We’re investigating these events and investor losses, particularly because investors look to the ASCO meeting for the latest developments and newest clinical data on experimental cancer drugs.”
Whistleblowers: Persons with non-public information regarding IMMU should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email IMMU@hbsslaw.com .
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About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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