Immunomedics, Inc. (NASDAQ:IMMU) released a statement today, which announced that the company believes that it is in a war, with a shameful entity, which is otherwise known as the activist investor, VenBio Select Advisor LLC.
The blatant war between these two entities has been ever present. However, when Immunomedics, announced the exclusive global licencing deal with Seattle Genetics, it seems that those on the executive board of VenBio, were unimpressed.
The accusation against Immunomedics from VenBio
According to various statements, from both entities, it can pertain that the lawsuit in question, revolves around VenBio questioning the executives of Immunomedics transparency when it comes to their shareholders.
Managing partner of Venbio, emphasised this point, through explaining in a statement, the reason why the company launched the lawsuit, which was due to the fact that they believed, through the most recent partnership, the company was not respecting its shareholders.
However, these accusations, are believed in the majority, to be untrue, which leaves many to speculate over the true reason behind the accusations, which Venbio is adamantly seeking out against Immunomedics.
Many believe, disregarding any other side-objectives, one of the goals of Venbio, is through this accusation to create distrust in the exclusive global licence agreement with Seattle Genetics, which was agreed upon on February 13, 2017.
Immunomedics explains the reason behind Venbio
The company, however, did not idle around while Venbio was launching these accusations. In a statement, the company accused Venbio of being shameful, blatant, as well as a few other choice words for their actions.
Through stating this, the company also revealed, how it is believed in the majority, that the reason behind these accusations, is to unsettle things enough, to change the outcome of the upcoming 2016 Meeting Of Stockholders.
However, needless to say, the company explained how they would be vehemently fighting against the accusations, which were launched the company regarding their transparency with their stockholders.