ImmunityBio, Inc. Securities Fraud Class Action Result of FDA Warning and 21% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
ImmunityBio, Inc. Securities Fraud Class Action Result of FDA Warning and 21% Stock Decline - Investors may Contact Lewis Kahn, Esq, at Kahn Swick & Foti, LLC
- Who is Involved: ImmunityBio, Inc. (NasdaqGS: IBRX) investors that purchased between January 19, 2026 and March 24, 2025
- When to Act: Deadline to file Lead Plaintiff applications is May 26, 2026
- Basis: ImmunityBio shares fell on FDA warning letter over cancer therapy claims in advertisement
NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with substantial losses that they have until May 26, 2026 to file lead plaintiff applications in a securities class action lawsuit against ImmunityBio, Inc. (NasdaqGS: IBRX) (“ImmunityBio” or the “Company”), if they purchased or otherwise acquired the Company’s securities between January 19, 2026 and March 24, 2026, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased securities of ImmunityBio and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://ksfcounsel.com/cases/nasdaqgs-ibrx-2/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 26, 2026.
About the Lawsuit
ImmunityBio and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 24, 2026, a warning letter dated March 13, 2026, from the U.S. Food and Drug Administration to CEO Richard Adcock was made public, stating that a television advertisement and podcast misrepresented Anktiva and resulted in its distribution violating the Federal Food, Drug, and Cosmetic Act. The letter also reportedly noted that the violations “are concerning from a public health perspective because the promotional communications create a misleading impression that Anktiva, a treatment for a certain type of bladder cancer, can cure and even prevent all cancer.”
On this news, the price of ImmunityBio’s shares fell $1.98 per share, or 21%, to close at $7.42 per share on March 24, 2026.
The case is Douglas v. ImmunityBio, Inc., et al., No. 26-cv-03261.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.
TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services
To learn more about KSF, you may visit www.ksfcounsel.com.
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Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
