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Immunomedics Ex-CEO Sues It for Contempt Over Earlier Settlement

July 7, 2020, 10:38 PM

Immunomedics Inc. was sued in Delaware by its founder, who claims it’s in contempt of court for breaching multiple provisions of a settlement resolving an earlier lawsuit over his ouster following its hostile takeover by a hedge fund.

David Goldenberg’s new suit, made public Tuesday, accuses Immunomedics of repeatedly violating the Chancery Court order implementing the agreement. His earlier case targeted Ven Bio Select Advisor LLC after it acquired the drugmaker, which specializes in experimental oncology treatments.

The company is now refusing to make millions worth of severance, equity, and royalty payments related to products Goldenberg invented, a $186 million...

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