Overview
- A federal securities class action, Douglas v. ImmunityBio, Inc. (No. 2:26-cv-03261), is pending in the U.S. District Court for the Central District of California.
- The case turns on a March 13 FDA Warning Letter that said a TV ad and a January 19 podcast about Anktiva were false or misleading under the Food, Drug, and Cosmetic Act.
- Following the March 24 media reports on the FDA letter, ImmunityBio’s shares fell about 21% to $7.42, cutting nearly $2 billion from the company’s market value.
- Plaintiffs say executives, including Executive Chairman Patrick Soon‑Shiong, overstated Anktiva by implying it could treat or even prevent all cancers, though the drug is only approved for a specific type of non‑muscle invasive bladder cancer.
- Multiple firms, including Kessler Topaz, Schall, Hagens Berman, Robbins Geller, DJS Law Group, and ClaimsFiler, are recruiting investors to seek lead‑plaintiff status by May 26, and the case remains at an early stage with no class certified.