Kessler Topaz Meltzer & Check, LLP announced on May 3 that a securities fraud class action lawsuit has been filed against ImmunityBio, Inc. for investors who purchased or acquired company securities between January 19 and March 24, 2026. The case is being heard in the United States District Court for the Central District of California under Douglas v. ImmunityBio, Inc., Case No. 2:26-cv-03261 (C.D. Cal.). Investors have until May 26 to seek lead plaintiff status.
The lawsuit claims that throughout the specified period, ImmunityBio made false or misleading statements and failed to disclose important information about its business and prospects. According to the complaint, “Defendants misrepresented and/or failed to disclose that: (1) ImmunityBio’s claim that Anktiva is a cancer vaccine was false; (2) ImmunityBio’s Executive Chairman and Global Scientific and Medical Officer materially overstated Anktiva’s capabilities; and (3) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”
On March 24, Bloomberg reported that ImmunityBio received an FDA Warning Letter stating its Executive Chairman Patrick Soon-Shiong made inaccurate claims on a podcast regarding Anktiva’s effectiveness—including saying it could “cure and even prevent all cancer.” The FDA found these statements to be false or misleading in violation of federal law. Following this news, shares of ImmunityBio dropped by $1.98 per share—about a 21 percent decrease—to close at $7.42.
Investors are encouraged by Kessler Topaz Meltzer & Check to contact attorney Jonathan Naji if they experienced losses during this period. There is no cost or obligation for consultation with counsel regarding their legal rights.
Kessler Topaz Meltzer & Check represents both individual investors and institutions in securities-fraud class actions across global markets. The firm reports having recovered over $25 billion for clients worldwide according to its website.
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