The ImmunityBio, Inc. class action lawsuit was filed on behalf of those who purchased or otherwise acquired ImmunityBio, Inc. (“ImmunityBio”) (NASDAQ: IBRX) securities between January 19, 2026 and March 24, 2026, inclusive (the “Class Period”). Captioned Douglas v. ImmunityBio, Inc., No. 26-cv-03261 (C.D. Cal.), the ImmunityBio class action lawsuit alleges that ImmunityBio and/or certain of its officers and/or directors violated federal securities laws by making false or misleading statements and/or omitted to disclose material information.
If you lost money as a result of your ImmunityBio investment and want to find out more about this action and your rights, fill out the form on this page or contact attorney Jonathan Naji, Esq. of KTMC by calling (484) 270-1453 or via e-mail at info@ktmc.com.
COMPLAINT ALLEGATION SUMMARY:
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) ImmunityBio’s claim that Anktiva is a cancer vaccine was false; (2) ImmunityBio’s Executive Chairman and Global Scientific and Medical Officer materially overstated Anktiva’s capabilities; and (3) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
WHY DID IMMUNITYBIO’S STOCK DROP?
On March 24, 2026, Bloomberg reported that ImmunityBio had receive a Warning Letter from the FDA stating that the company’s Executive Chairman and Global Chief Scientific and Medical Officer, Patrick Soon-Shiong, made inaccurate claims on a podcast regarding ImmunityBio’s lead biologic product, Anktiva, including that the drug “can cure and even prevent all cancer.” The FDA thus “determined that the TV ad and podcast [for Anktiva] are false or misleading” and “make the distribution of the drug in violation of the Federal Food, Drug, and Cosmetic Act.”
On this news, ImmunityBio’s stock price fell $1.98 per share, or 21.12%, to close at $7.42 per share on March 24, 2026.
THE LEAD PLAINTIFF PROCESS:
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired ImmunityBio securities during the Class Period to seek appointment as lead plaintiff in the ImmunityBio class action lawsuit. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.