The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of ImmunityBio, Inc. (NASDAQ: IBRX) who purchased securities between May 23, 2022 and May 10, 2023. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.
In particular, the ImmunityBio lawsuit alleges that (i) ImmunityBio conducted insufficient due diligence to discover, or else did discover and ignored, Good Manufacturing Practice ("GMP") deficiencies at its third-party contract manufacturing organizations ("CMOs") for the antibody cytokine fusion protein N-803, commercially referred to as “Anktiva”; (ii) one or more of the Company’s third-party CMOs for Anktiva did in fact suffer from GMP deficiencies; (iii) the foregoing deficiencies was likely to cause the FDA to reject the Anktiva Biologics License Application (“BLA”) in its present form; (iv) accordingly, the Company overstated the regulatory approval prospects for the Anktiva BLA; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until August 29, 2023 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >