Robbins LLP Urges ImmunityBio Shareholders to Join Class Action

Law firm investigates allegations that biotech firm misled investors about lead drug candidate

Apr. 16, 2026 at 1:48am

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A high-end, photorealistic studio still-life photograph featuring a shattered glass vial with a faint red liquid inside, arranged elegantly on a clean, monochromatic grey background with sharp, dramatic lighting and deep shadows, conceptually representing the corporate risks and financial fallout from ImmunityBio's alleged misleading marketing practices.A shattered glass vial symbolizes the damaged reputation of ImmunityBio's lead drug candidate following allegations of misleading promotional claims.San Diego Today

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

Why it matters

The class action lawsuit could allow affected ImmunityBio shareholders to recover losses if the allegations of misleading statements about Anktiva are proven. The case also raises broader questions about transparency and accountability in the biotech industry.

The details

According to the complaint, Soon-Shiong made material overstatements about Anktiva's capabilities during the class period. On March 24, 2026, a warning letter from the FDA was publicized, indicating that ImmunityBio's promotional communications created a misleading impression that Anktiva could cure and prevent all types of cancer. This news caused ImmunityBio's stock price to drop 21% on that day.

  • The class period is January 19, 2026 to March 25, 2026.
  • The FDA warning letter was publicized on March 24, 2026.

The players

ImmunityBio, Inc.

A biotechnology company developing cancer treatments, including its lead biologic product Anktiva.

Patrick Soon-Shiong

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

Robbins LLP

A law firm representing investors in a class action lawsuit against ImmunityBio.

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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 case highlights the importance of transparency and accountability in the biotech industry, where exaggerated claims about drug capabilities can mislead investors and undermine public trust.