Immunomedics, Inc. Securities Litigation Settles for $40 million

Court Highlights Block & Leviton's Hard Work, Professionalism and Detailed Advocacy

In a securities fraud case against Immunomedics, Inc. that has been heavily litigated since 2018, B&L secured a $40 million settlement for investors as co-lead counsel. Judge Edward Kiel, Jr., of the United States District Court for the District of New Jersey, approved the settlement at a hearing on June 15, 2023, during which he highlighted that the firm had “proven [our]selves to be independent and more than competent” in representing the class. He concluded the hearing by thanking the attorneys on both sides of the “v” for their hard work, professionalism, and dedicated advocacy:

And let me just note that it’s been a pleasure working with counsel in this case. We’ve had a lot of calls together. We’ve had a lot of disputes, but in that time, all counsel, I have found, were hard-working, professional, responsible, and most importantly courteous to each other. Counsel, they worked hard and did what was expected. And they were fair but firm in representing the interests of their respective clients.

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August 23, 2023

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