NEW YORK, Feb. 27, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the USDC for the District of New Jersey on behalf of investors who purchased Immunomedics, Inc. ("Immunomedics" or the "Company") (Nasdaq:IMMU) common stock between May 9, 2013 and October 9, 2013.
Click here to learn more about the action http://zlk.9nl.com/immunomedics-immu, or call: 877-363-5972. There is no cost or obligation to you.
In 2008 Immunomedics entered into an agreement with Nycomed GmbH ("Nycomed"), wherein the Company issued Nycomed a worldwide license to develop, manufacture, and commercialize Veltuzumab, an antibody for treatment of non-cancer indications. Then in 2011, Nycomed was acquired by Takeda Pharmaceutical Company; as a result of this agreement, Takeda-Nycomed was responsible for completing the clinical development and obtainment of regulatory approval for Veltuzumab. The complaint alleges that the defendants made positive statements about Veltuzumab and its development by Takeda-Nycomed, despite the fact that Takeda-Nycomed and the Company were engaged in a dispute regarding a delay in the antibody's development. On October 9, 2013, Immunomedics announced that its agreement with Takeda-Nycomed had been terminated.
If you suffered a loss in Immunomedics you have until April 28, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/immunomedics-immu.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP