ImmunityBio, Inc. (NASDAQ: IBRX) Securities Fraud Class Action

Case Background:
This is a federal securities fraud class action lawsuit 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”).

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 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 at all relevant times.

Current Status of Case:
On May 26, 2026, Motions to Appoint Lead Plaintiff and Lead Counsel were filed. The Motions are pending decision before the Court. This action is ongoing.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. If you would like additional information about the suit, please click on the link “Submit Your Information” above and fill out the form as promptly as possible.

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.