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ImmunityBio Faces Legal Scrutiny Over Anktiva Approval Claims
SAN FRANCISCO, Nov. 19, 2024 /PRNewswire/ — The law firm Schubert Jonckheer & Kolbe LLP is currently investigating possible legal actions concerning ImmunityBio, Inc. Investors have been alerted to look into the company’s challenges in securing regulatory approval for its main product, Anktiva, which is intended for bladder cancer treatment. Shareholders are encouraged to reach out for more information regarding the potential implications of these developments.
Class Action Complaint Filed
On June 20, 2024, a notable ruling was made by Judge Gonzalo P. Curiel in the U.S. District Court for the Southern District of California. This ruling partially withheld a motion to dismiss a class action lawsuit against ImmunityBio and several of its executive officers. The suit accuses the company of deliberately misguiding investors from March 2021 to May 2023 regarding the likelihood of securing approval from the U.S. Food and Drug Administration (FDA) for Anktiva. Allegations state that ImmunityBio concealed significant issues related to recordkeeping, quality control, and sanitation at its manufacturing facilities. Following the revelation of these issues in May 2023, the company’s stock plummeted by 55%.
Investigation into Management Conduct
The investigation led by Schubert Jonckheer & Kolbe is focusing on potential misconduct by ImmunityBio’s executives and board members in relation to these serious accusations.
Your Rights as a Shareholder
Shareholders of ImmunityBio seeking further details about their legal options can visit this link.
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe LLP specializes in representing shareholders, employees, and consumers in class action lawsuits against corporations. They also advocate for shareholders in derivative lawsuits targeting corporate officers and directors. Based in San Francisco, the firm collaborates with co-counsel to pursue cases across the nation.
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www.investing.com