IBRX Investor Alert: ImmunityBio Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Chairman Allegedly Misbranded Cancer Drug: Levi & Korsinsky

Notice to Pension Funds, Asset Managers, and Fiduciaries

NEW YORK--(BUSINESS WIRE)--Institutional investors holding positions in ImmunityBio, Inc. (NASDAQ: IBRX) during the period January 19, 2026 through March 24, 2026 may wish to evaluate lead plaintiff opportunities in a pending securities class action. Shares lost $1.98 per share, a 21% decline, after an FDA Warning Letter exposed allegedly false promotional claims about the Company's lead drug, ANKTIVA. Request an institutional investor loss assessment or contact Joseph E. Levi, Esq. at [e-mail] or [phone].

The window to apply for lead plaintiff closes on May 26, 2026. Portfolio managers, pension fund trustees, and other fiduciaries should assess whether their funds purchased IBRX securities at prices allegedly inflated by the Executive Chairman's public misrepresentations regarding ANKTIVA's efficacy and approved uses.

Fiduciary Obligations and Recovery Options

Fiduciaries overseeing portfolios that held IBRX shares during the class period face distinct obligations under ERISA and applicable state law:

• Pension funds and retirement plan trustees have a duty to investigate potential recoveries on behalf of beneficiaries when portfolio holdings are affected by alleged securities fraud
• Institutional investors with the largest documented losses are best positioned to serve as lead plaintiff and direct case strategy
• Lead plaintiff appointment carries no additional financial cost; counsel fees are contingent and court-approved
• Serving as lead plaintiff provides direct oversight of settlement negotiations, ensuring fiduciary interests are prioritized
• Failure to evaluate recovery options may itself raise questions about prudent fiduciary management

Contact us for institutional recovery options or call [phone].

Portfolio Impact Assessment

The alleged misconduct centers on statements made by the Executive Chairman on a nationally broadcast podcast on January 19, 2026, in which ANKTIVA was described as a treatment that "can treat all cancers" while an on-screen banner referred to it as a “Cancer Therapeutic Vaccine." The FDA's subsequent Warning Letter, publicized March 24, 2026, determined these promotional communications were false or misleading and that ANKTIVA had been misbranded in violation of the FD&C Act. IBRX shares closed at $7.42 on March 24, 2026, down from $9.40 the prior session.

For institutional holders with concentrated biotech or healthcare allocations, the loss may represent a material portfolio event requiring documentation and reporting.

Case Summary

The securities action alleges violations of Sections 10(b) and 20(a) of the Exchange Act. The complaint contends that the Company's promotional materials grossly overstated ANKTIVA's therapeutic scope, claiming efficacy across "all cancers" and describing an unapproved subcutaneous route of administration, when the drug is approved only for intravesical use in a specific type of bladder cancer. ANKTIVA's clinical trial showed a 62% complete response rate in 77 patients with BCG-unresponsive NMIBC, and the single-agent cohort was stopped early for futility.

"Institutional investors play a critical role in securities class actions. Their participation as lead plaintiff ensures that cases are prosecuted with the rigor and resources the class deserves, and that fiduciary interests are represented at the highest level." -- Joseph E. Levi, Esq.

About Levi & Korsinsky, LLP

INSTITUTIONAL INVESTOR REPRESENTATION -- Levi & Korsinsky, LLP provides sophisticated counsel to institutional investors evaluating lead plaintiff opportunities. The firm has recovered hundreds of millions of dollars. Ranked among ISS Top 50 for seven consecutive years.

Frequently Asked Questions About the IBRX Lawsuit

Q: Who is eligible to join the IBRX investor lawsuit? A: Investors who purchased IBRX stock or securities between January 19, 2026 and March 24, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.

Q: What is the IBRX lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is May 26, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my IBRX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What documents do I need to make a claim? A: Brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.

Q: Can I join a different law firm's lawsuit instead? A: Multiple firms often file competing complaints. The court consolidates and appoints a single lead counsel. Contacting Levi & Korsinsky before May 26, 2026 ensures your losses are considered.