Immunomedics Agrees To $18M Settlement With Broker-Dealer

Law360, New York (April 1, 2013, 10:44 PM EDT) -- Immunomedics Inc. has accepted some $18 million in settling its Financial Industry Regulatory Authority proceedings against its former broker-dealer over certain investments it had made, the Morris Plains, N.J.-based pharmaceutical firm said Monday.

Immunomedics, which specializes in the treatment of cancer and autoimmune illnesses, said it reached the settlement March 27, according to a statement by the firm Monday. It did not specify which arbitration proceeding the settlement involves, referring to it only as its “previously disclosed” proceeding.

The firm has noted in its annual U.S....
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