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Immunomedics Files Federal Lawsuit Against venBio for Continuing Material Violations of the Federal Securities Laws

IMMUNOMEDICS (IMMU)  More Company Research Source: GlobeNewswire
Last immunomedics earnings: 5/9 04:00 pm Check Earnings Report
PDF MORRIS PLAINS, N.J., Feb. 21, 2017 (GLOBE NEWSWIRE) -- Immunomedics, Inc. (NASDAQ:IMMU) (“Immunomedics” or “the Company”) today announced that it has filed a federal lawsuit and a motion seeking injunctive relief against venBio Select Advisor LLC (“venBio”) and venBio’s four director candidates arising out of venBio’s continuing material violations of federal securities laws in connection with the Company’s upcoming 2016 Annual Meeting of Stockholders, which is scheduled for March 3, 2017. The Company filed the federal lawsuit on February 17, 2017, in the United States District Court for the District of Delaware and filed the motion for injunctive relief today. The Company’s complaint asserts that venBio has violated — and continues to violate — the federal securities laws and proxy rules by, among other things, intentionally delaying the filing of its Schedule 13D in respect of its greater than 5% ownership of the Company by over five months in order to conceal its intent to try t [Read more]

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