Shareholders Urged to Join Class Action Lawsuit Against ImmunityBio

Robbins LLP Reminds Investors of Allegations of Misleading Claims About Lead Product Anktiva

Mar. 27, 2026 at 8:33pm

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Robbins LLP has filed a class action lawsuit on behalf of investors who purchased or acquired securities of ImmunityBio, Inc. (NASDAQ: IBRX) between January 19, 2026 and March 25, 2026. The lawsuit alleges that the company and its CEO Soon-Shiong materially overstated the capabilities of Anktiva, ImmunityBio's lead biologic product.

Why it matters

The lawsuit comes after the U.S. Food and Drug Administration issued a warning letter to ImmunityBio regarding misleading promotional claims about Anktiva, which the company claimed could cure and prevent all types of cancer. This led to a 21% drop in ImmunityBio's stock price on March 24, 2026.

The details

According to the complaint, ImmunityBio and CEO Soon-Shiong made false and misleading statements about Anktiva's capabilities during the class period. The FDA warning letter stated that the company's promotional communications created a misleading impression about Anktiva's abilities as a treatment for certain bladder cancers.

  • The class action lawsuit was filed on behalf of investors who purchased ImmunityBio securities between January 19, 2026 and March 25, 2026.
  • The FDA warning letter was publicized on March 24, 2026, leading to a 21% drop in ImmunityBio's stock price that day.

The players

ImmunityBio, Inc.

A biotechnology company with Anktiva as its lead biologic product.

Soon-Shiong

The CEO of ImmunityBio who is accused of making misleading claims about Anktiva.

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What’s next

Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by May 26, 2026.

The takeaway

This lawsuit highlights the importance of biotechnology companies making accurate and transparent claims about their products, especially when those products are intended to treat serious medical conditions like cancer. Investors will be closely watching the outcome of this case.