ImmunityBio, Inc. Securities Fraud Class Action Stemming From FDA Warning; Shares Fall 21%

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Investors in ImmunityBio, Inc. (NasdaqGS: IBRX) who purchased or otherwise acquired shares between January 19, 2026 and March 24, 2026 are reminded that the deadline to file lead plaintiff applications in a securities class action lawsuit is May 26, 2026. The case is pending in the United States District Court for the Central District of California.

Deadline and class period

Lead plaintiff applications must be filed by May 26, 2026 for investors who purchased or otherwise acquired ImmunityBio securities during the class period, defined as January 19, 2026 through March 24, 2026 (inclusive).

Allegations in the lawsuit

ImmunityBio and certain executives are charged with failing to disclose material information during the class period, in alleged violation of federal securities laws.

FDA warning letter and market reaction

On March 24, 2026, a warning letter dated March 13, 2026 from the U.S. Food and Drug Administration to CEO Richard Adcock was made public. The letter stated that a television advertisement and podcast misrepresented Anktiva and resulted in its distribution violating the Federal Food, Drug, and Cosmetic Act.

The letter reportedly noted that the violations “are concerning from a public health perspective because the promotional communications create a misleading impression that Anktiva, a treatment for a certain type of bladder cancer, can cure and even prevent all cancer.”

Following the news, ImmunityBio shares fell $1.98 per share, or 21%, to close at $7.42 per share on March 24, 2026.

Case details

The lawsuit is Douglas v. ImmunityBio, Inc., et al., No. 26-cv-03261.

How investors can participate

Investors seeking to discuss their legal rights and how the case may affect potential recovery for economic loss were directed to contact Kahn Swick & Foti, LLC. To serve as lead plaintiff, investors must petition the court by May 26, 2026.