Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of ImmunityBio, Inc. who purchased shares between January 19, 2026 and March 24, 2026.
ImmunityBio and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 24, 2026, a warning letter dated March 13, 2026, from the U.S. Food and Drug Administration to CEO Richard Adcock was made public, stating that a television advertisement and podcast misrepresented Anktiva and resulted in its distribution violating the Federal Food, Drug, and Cosmetic Act. The letter also reportedly noted that the violations “are concerning from a public health perspective because the promotional communications create a misleading impression that Anktiva, a treatment for a certain type of bladder cancer, can cure and even prevent all cancer.”
On this news, the price of ImmunityBio’s shares fell $1.98 per share, or 21%, to close at $7.42 per share on March 24, 2026.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until May 26, 2026 to request that the court appoint them lead plaintiff.