NEW YORK, Feb. 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Immunomedics, Inc. ("Immunomedics" or the "Company") (NasdaqGM: IMMU). Investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Immunomedics and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 9, 2013, Immunomedics issued a press release announcing that the Agreement with Takeda-Nycomed, the company tasked with the development of Veltuzumab, an anti-CD20 antibody licensed from Immunomedics, had been terminated.
On this news, Immunomedics common stock fell $0.40 per share, or more than 6.67% to a price of $5.60 on October 9, 2013.The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. WilloughbyPomerantz LLP firstname.lastname@example.org SOURCE Pomerantz LLP