NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Kiromic BioPharma, Inc. (NASDAQ: KRBP): (i) pursuant and/or traceable to the offering documents issued in connection with the Company’s initial public offering conducted on or about July 2, 2021 (the “IPO”); and/or (ii) between June 25, 2021 and August 13, 2021, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than October 4, 2022.
SO WHAT: If you purchased Kiromic BioPharma securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.
WHAT TO DO NEXT: To join the Kiromic BioPharma class action, go to https://rosenlegal.com/submit-form/?case_id=8051 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 4, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
DETAILS OF THE CASE: According to the lawsuit, the IPO documents failed to disclose that the Food and Drug Administration (“FDA”) had, prior to the filing of the IPO documents, imposed a clinical hold, and in fact, contained statements indicating that it had not. Given that the IPO closed on July 2, 2021, more than thirty (30) days after the Company submitted the Investigational New Drug (“IND”) applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.
The Company, however, had received communications from the FDA on June 16 and 17, 2021, informing it that the FDA was placing the IND applications for its two candidate products on clinical hold. The IPO documents failed to disclose this information, instead representing that clinical testing was expected to proceed in the third quarter of 2021. Clinical testing did not proceed in the third quarter of 2021, nor was it likely given the FDA’s imposition of a clinical hold. When the true details entered the market, the lawsuit claims that investors suffered damages.
To join the Kiromic BioPharma class action, go to https://rosenlegal.com/submit-form/?case_id=8051 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org for information on the class action.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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