Deadline Approaching for ImmunityBio Investors to Seek Lead Plaintiff Role

Kirby McInerney LLP reminds investors of May 26, 2026 deadline to join class action lawsuit against ImmunityBio over misleading marketing claims.

Apr. 16, 2026 at 12:03am

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An extreme close-up of the intricate mechanical components and gears of a large, industrial-looking medical device, dramatically lit to emphasize the power and complexity of the technology, serving as a conceptual metaphor for the regulatory scrutiny facing the pharmaceutical industry.The FDA's warning about ImmunityBio's misleading promotional claims for its cancer drug highlights the need for rigorous oversight of the pharmaceutical industry.NYC Today

Kirby McInerney LLP is reminding investors in ImmunityBio, Inc. (NASDAQ:IBRX) that they have until May 26, 2026 to seek the role of lead plaintiff in a pending federal securities class action lawsuit against the company. The lawsuit alleges that ImmunityBio's Executive Chairman, Patrick Soon-Shiong, made misleading public statements about the capabilities of the company's cancer immunotherapy drug Anktivas.

Why it matters

The lead plaintiff in a securities class action lawsuit can influence key decisions like litigation strategy and settlement terms. Courts regularly appoint individual investors, not just large institutions, to serve as lead plaintiffs. This case highlights concerns about ImmunityBio's marketing practices and the potential financial impact on investors who purchased the company's securities.

The details

The lawsuit alleges that during the class period from January 19, 2026 through March 24, 2026, ImmunityBio and Soon-Shiong made false and misleading statements about Anktivas, an FDA-approved IL-15 receptor agonist immunotherapy. On March 24, 2026, the FDA issued a warning letter stating that ImmunityBio's TV ad and podcast about Anktivas were 'false or misleading.' The FDA noted it had previously sent 'Untitled Letters' to ImmunityBio's subsidiary Altor BioScience in September 2025 and January 2026 addressing similar misleading presentations about Anktivas. After the FDA warning, ImmunityBio's stock price dropped by over 21%.

  • The class period is from January 19, 2026 through March 24, 2026.
  • The FDA issued its warning letter to ImmunityBio on March 24, 2026.
  • The deadline for investors to seek lead plaintiff status is May 26, 2026.

The players

ImmunityBio, Inc.

A biopharmaceutical company developing cancer immunotherapies, including the drug Anktivas.

Patrick Soon-Shiong

The Executive Chairman of the Board of ImmunityBio.

Kirby McInerney LLP

A New York-based plaintiffs' law firm representing investors in the class action lawsuit against ImmunityBio.

U.S. Food and Drug Administration (FDA)

The federal agency that issued a warning letter to ImmunityBio over misleading marketing claims about Anktivas.

Altor BioScience, LLC

An indirect wholly-owned subsidiary of ImmunityBio that previously received 'Untitled Letters' from the FDA over similar misleading presentations about Anktivas.

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What they’re saying

“Kirby McInerney LLP reminds ImmunityBio, Inc. ('ImmunityBio' or the 'Company') (NASDAQ:IBRX) investors of the May 26, 2026 deadline to seek the role of lead plaintiff in a pending federal securities class action.”

— Lauren Molinaro, Attorney, Kirby McInerney LLP

What’s next

The judge overseeing the case will decide on May 26, 2026 whether to appoint a lead plaintiff to represent the class of ImmunityBio investors.

The takeaway

This case highlights the importance for investors to be vigilant about companies' marketing claims, especially in the highly regulated pharmaceutical industry. The lead plaintiff role gives individual investors a powerful voice to hold companies accountable for misleading statements that impact shareholder value.