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TMCNet:  Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Immunomedics, Inc.

[February 04, 2014]

Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Immunomedics, Inc.

BENSALEM, Pa. --(Business Wire)--

Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Immunomedics, Inc. ("Immunomedics" or the "Company") (NASDAQ:IMMU) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by the Company concerning Immunomedics' business and financial prospects.

Immunomedics is a biopharmaceutical company focused on the development of monoclonal antibody-based products for targeted treatment of cancer, autoimmune disorders and other serious diseases. The Company's product Veltuzumab isa humanized anti-CD20 antibody, in the subcutaneous formulation, for the treatment of all non-cancer indications. The investigation is related to Immunomedics' disclosure in a Form 8-K filed with the Securities and Exchange Commission on October 9, 2013, that the Company's agreement with Nycomed GmbH to develop, manufacture and commercialize Veltuzumab has been terminated.


According to the Form 8-K, Nycomed was acquired by Takeda Pharmaceutical Company in September 2011. Immunomedics previously notified Nycomed of its concern about delays in the product's advancement, and on May 14, 2013, notified Nycomed that Nycomed was in material breach of the agreement and that the agreement would terminate if the breaches remained uncured. On October 3, 2013, Takeda notified Immunomedics that it considers the agreement as terminated.

If you purchased Immunomedics shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.


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