Key Takeaways:
- A securities class action has been filed against ImmunityBio (IBRX).
- The suit alleges misleading statements about its cancer drug Anktiva.
- The lead plaintiff deadline for investors is May 26, 2026.
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ImmunityBio Faces Securities Lawsuit After 21% Stock Drop
(P1) A securities class action lawsuit has been filed against ImmunityBio, Inc. after its stock fell 21.12% on March 24, 2026, following a warning from the U.S. Food and Drug Administration.
(P2) "Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects," the complaint filed in the Central District of California alleges.
(P3) The lawsuit covers investors who purchased ImmunityBio securities between January 19, 2026, and March 24, 2026. The action follows an FDA Warning Letter stating that promotional materials for the company's lead drug, Anktiva, were "false or misleading." On the news, ImmunityBio's stock price fell $1.98 to close at $7.42 per share.
(P4) The lawsuit, announced by several law firms including Bernstein Liebhard LLP and Kessler Topaz Meltzer & Check, LLP, consolidates shareholder claims ahead of a May 26, 2026, deadline to file for lead plaintiff status.
The core of the lawsuit centers on claims made by ImmunityBio's Executive Chairman, Patrick Soon-Shiong, regarding Anktiva. The FDA's letter specifically cited statements that the drug "can cure and even prevent all cancer," which the agency determined made its distribution a violation of the Federal Food, Drug, and Cosmetic Act.
Multiple law firms, including Kaplan Fox & Kilsheimer and The Rosen Law Firm, have published notices encouraging investors who suffered losses to seek counsel and join the class action. The case, captioned Douglas v. ImmunityBio, Inc. (Case No. 2:26-cv-03261), alleges that the company and its executives materially overstated Anktiva's capabilities.
The legal actions create significant uncertainty for ImmunityBio, which now faces potential damages and legal costs. The outcome of the lead plaintiff selection will determine the future direction of the litigation against the company.
This article is for informational purposes only and does not constitute investment advice.
[1] ImmunityBio, Inc. (IBRX) Investors Have Opportunity to Lead Securities Fraud Class Action Lawsuit - FinancialContent[2] IMMUNITYBIO DEADLINE FOR LEADERSHIP is May 26, 2026 in a Securiti - The National Law Review[3] ROSEN, A LEADING LAW FIRM, Encourages ImmunityBio, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm - IBRX - TMX Newsfile
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