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Immunomedics, Inc.

Company NameImmunomedics, Inc.
Stock SymbolIMMU
Class PeriodAugust 23, 2018 to December 20, 2018
Lead Plaintiff Motion DeadlineFebruary 25, 2019

On December 17, 2018, FDAnews published an article reporting that “[t]he FDA cited Immunomedics for a host of violations – including its handling of a data integrity breach – observed at its Morris Plains, New Jersey, drug substance manufacturing facility between August 6 and 14.” The article further reported that the breach included “manipulated bioburden samples, misrepresentation of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results.”

On this news, Immunomedics’ share price fell $0.87, or approximately 4.6%, to close at $17.86 per share on December 17, 2018, thereby injuring investors.

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