ImmunityBio Faces Anktiva Misleading Claims Lawsuit
Analysis based on 45 articles · First reported Apr 02, 2026 · Last updated May 08, 2026
The class action lawsuit against ImmunityBio, initiated by Rosen Law Firm and investigated by Hagens Berman, has led to a significant drop in ImmunityBio's stock price and market capitalization. This event highlights the risks associated with companies making unsubstantiated claims about their products, especially after receiving a warning from the United States — Food and Drug Administration, potentially impacting investor confidence in the biotechnology sector.
ImmunityBio, a biotechnology company, is facing multiple securities class action lawsuits, initially filed by Rosen Law Firm and further investigated by Hagens Berman. The lawsuits allege that ImmunityBio and its executive chairman, Patrick Soon-Shiong, made false and misleading statements about the efficacy of their lead biologic product, Anktiva. Specifically, Patrick Soon-Shiong claimed Anktiva could treat 'all cancers' despite its approval only for non-muscle invasive bladder cancer. The United States — Food and Drug Administration issued a warning letter to ImmunityBio, stating that these promotional materials were misleading and grossly misrepresented Anktiva's benefits. This news caused ImmunityBio's shares to drop over 21% on March 24, 2026, erasing nearly $2 billion from its market capitalization. Investors who purchased ImmunityBio securities between January 19, 2026, and March 24, 2026, are encouraged to join the class action by the May 26, 2026, lead plaintiff deadline.
Set up alerts, explore entity relationships, search across thousands of events, and build custom intelligence feeds.
Open Dashboard