Investors with Substantial Losses in ImmunityBio (IBRX) Have Opportunity to Lead Class Action Lawsuit

Robbins Geller Rudman & Dowd LLP announces deadline for lead plaintiff in ImmunityBio securities fraud case.

Apr. 4, 2026 at 3:48am

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An extreme close-up of complex, industrial machinery and gears, conceptually representing the complex financial and regulatory landscape of the biotechnology industry.The FDA's warning about ImmunityBio's misleading marketing highlights the need for transparency and accountability in the highly regulated biotechnology sector.San Diego Today

The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of ImmunityBio, Inc. (NASDAQ: IBRX) publicly traded securities between January 19, 2026 and March 24, 2026 have until May 26, 2026 to seek appointment as lead plaintiff of the ImmunityBio class action lawsuit. The lawsuit alleges that ImmunityBio and its executives made false and misleading statements about the capabilities of the company's lead product, Anktiva.

Why it matters

This case highlights the importance of accurate and transparent disclosures by publicly traded companies, especially those in the biotechnology industry where investor confidence is critical. The lawsuit alleges that ImmunityBio misled investors about the efficacy of its lead drug candidate, which could have significant financial and reputational consequences for the company.

The details

The ImmunityBio class action lawsuit charges the company and its Executive Chairman, Dr. Patrick Soon-Shion, with violations of the Securities Exchange Act of 1934. The complaint alleges that the defendants made false and/or misleading statements about Anktiva, claiming it would allow all patients treated with the drug to be cancer-free long-term, when this had not been demonstrated. The lawsuit also alleges that the claim of Anktiva being a cancer vaccine was false, and that Dr. Soon-Shion materially overstated the drug's capabilities.

  • The Class Period is from January 19, 2026 to March 24, 2026.
  • Investors have until May 26, 2026 to seek appointment as lead plaintiff.
  • On March 24, 2026, a warning letter from the FDA to ImmunityBio's CEO was publicized, stating that the company's promotional communications about Anktiva were misleading.

The players

ImmunityBio, Inc.

A biotechnology company that focuses on innovating, developing, and commercializing next-generation immunotherapies. Its lead biologics product is Anktiva.

Dr. Patrick Soon-Shion

The Executive Chairman and Global Scientific and Medical Officer of ImmunityBio, who is alleged to have materially overstated Anktiva's capabilities.

Richard Adcock

The CEO of ImmunityBio, who received a warning letter from the FDA about the company's misleading promotional communications regarding Anktiva.

Robbins Geller Rudman & Dowd LLP

A law firm representing investors in the ImmunityBio class action lawsuit, which is one of the world's leading firms in securities fraud and shareholder rights litigation.

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What’s next

The judge will decide on May 26, 2026 whether to appoint a lead plaintiff for the ImmunityBio class action lawsuit.

The takeaway

This case highlights the importance of accurate and transparent disclosures by publicly traded companies, especially in the biotechnology industry where investor confidence is critical. The allegations against ImmunityBio raise concerns about the company's marketing practices and the potential financial and reputational consequences it may face.