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Case Status:    ONGOING    
On or around 09/30/2020 (Date of last review)

Filing Date: September 29, 2020

According to the Complaint, Immunomedics, Inc. is a leader in next-generation antibody-drug conjugate (“ADC”) technology, committed to helping people with hard-to-treat cancers.

This action stems from a proposed transaction announced on September 13, 2020, pursuant to which Immunomedics, Inc. will be acquired by Gilead Sciences, Inc. (“Parent”) and Maui Merger Sub, Inc. (“Merger Sub,” and together with Parent, “Gilead”).

On September 13, 2020, Immunomedics’ Board of Directors caused the Company to enter into an agreement and plan of merger with Gilead. Pursuant to the terms of the Merger Agreement, Merger Sub commenced a tender offer to purchase all of Immunomedics’ outstanding common stock for $88.00 in cash per share. The Tender Offer is set to expire on October 22, 2020.

On September 24, 2020, Defendants filed a Solicitation/Recommendation Statement with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction. The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IMMU
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 20-CV-01312
JUDGE: Hon. Maryellen Noreika
DATE FILED: 09/29/2020
CLASS PERIOD START: 09/13/2020
CLASS PERIOD END: 09/29/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available