Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of California on behalf of shareholders of Kyverna Therapeutics, Inc. (“Kyverna” or the “Company”) (NasdaqGS: KYTX), if they purchased the Company’s shares pursuant and/or traceable to the Company’s registration statement issued in connection with its February 2024 initial public offering (“IPO”).
Kyverna and certain of its executives and others are charged with failing to disclose material information in its IPO Registration Statement and Prospectus (collectively, the “Offering Documents”), violating federal securities laws.
According to the Complaint, the Company’s Offering Documents used to effectuate its IPO misstated and/or omitted facts concerning the results of the Company’s ongoing evaluation of its lead product candidate, KYV-101, in clinical trials. Specifically, the Company touted patient “improvement” in certain indicators while failing to disclose adverse data regarding one of the trials, which adverse data was known to the Company at the time of the IPO. When these true facts emerged after the Offering, the Company’s shares fell sharply, severely harming investors.
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 February 7, 2025 to request that the court appoint them lead plaintiff.