Investor Lawsuits Build After FDA Rebukes ImmunityBio Over Anktiva Promotion

Plaintiff firms are recruiting shareholders before a May 26 deadline to lead cases tied to the March 24 stock drop.

Overview

Kessler Topaz on Wednesday outlined a case in the Central District of California, captioned Douglas v. ImmunityBio, and noted a May 26 deadline for lead‑plaintiff motions.
Robbins LLP on Thursday urged investors who bought between January 19 and March 25 to contact the firm about leading the suit.
The FDA warning letter said a TV ad and a January 19 podcast were false or misleading and created the impression Anktiva could cure or prevent all cancers.
After the letter became public on March 24, ImmunityBio’s shares fell about 21% to $7.42, erasing nearly $2 billion in market value.
Complaints allege Executive Chairman Patrick Soon‑Shiong overstated Anktiva’s abilities, even as the drug is only approved with BCG for a specific bladder cancer.