NEWARK, NJ, Oct. 31, 2022 (GLOBE NEWSWIRE) — Hagens Sobol Shapiro LLP announces that the United States District Court for the District of New Jersey has approved the following announcement of a proposed securities class action settlement that would benefit purchasers of Immunomedics, Inc. securities .

SUMMARY NOTICE OF PENDING AND PROPOSED CLASS ACTION SETTLEMENT

TO: ALL PERSONS WHO OWN IMMUNOMEDICS, INC. SECURITIES PURCHASED OR OTHERWISE ACQUIRED FROM MAY 2, 2016 TO JUNE 24, 2016, BOTH DATES INCLUDED.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey, that a hearing will be held on January 19, 2023 at 11:00 a.m. before the Honorable Katharine S. Hayden, United States District Judge of the District of New Jersey, United States Courthouse, Room 4015, 50 Walnut Street, Newark, NJ 07102 for the purpose of determining: (1) whether the proposed settlement of claims in the lawsuit titled above (“Settlement”) for consideration including the sum of 4,000 $,000 (“Settlement Amount”) should be approved by the court as fair, reasonable and reasonable; (2) whether the proposed settlement proceeds distribution plan is fair, reasonable and reasonable; (3) whether the request by counsel for Lead Plaintiff (“Counsel for Lead Plaintiff”) for an award of attorneys’ fees of up to one-third plus interest of the Settlement Amount, reimbursement of expenses not exceeding $180,000, and an incentive payment not exceeding $10,000 should be approved to lead plaintiff; and (4) whether this lawsuit should be dismissed with prejudice as set forth in the Agreement and Settlement Agreement dated April 13, 2022 (the “Settlement Agreement”). The court can also hold the hearing by telephone or video conference.

If you purchased or otherwise acquired publicly traded securities of Immunomedics, Inc. (“Immunomedics”) during the period from May 2, 2016 to June 24, 2016, both…