IBRX Investor Alert: ImmunityBio Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Chairman Allegedly Misled on Drug Efficacy: Levi & Korsinsky
Key Dates and Disclosure Events Shareholders Need to Know
NEW YORK, May 13, 2026 /PRNewswire/ -- Levi & Korsinsky, LLP encourages investors who suffered losses in ImmunityBio, Inc. (NASDAQ: IBRX) to contact the firm.
WHO IS AFFECTED: Those who purchased ImmunityBio securities between January 19, 2026 and March 24, 2026 may be entitled to recover damages. Find out if you are eligible to recover losses or contact Joseph E. Levi, Esq. at [email protected] or (212) 363-7500.
IBRX shares lost $1.98 per share, a 21% decline, closing at $7.42 on March 24, 2026, after an FDA Warning Letter exposed allegedly false promotional claims. The window to apply for lead plaintiff closes on May 26, 2026.
January 19, 2026: The Podcast That Triggered Regulatory Scrutiny
The class period opens on the date ImmunityBio's Executive Chairman appeared on The Sean Spicer Show podcast and made sweeping claims about ANKTIVA, the Company's lead biologic product. According to the lawsuit, the broadcast suggested that ANKTIVA could treat "all cancers," was represented as a "cancer vaccine," and was characterized as a simple subcutaneous injection. The podcast was linked on the Company's corporate website, amplifying its reach to investors and patients.
January 19, 2026 through March 12, 2026: The Period of Alleged Artificial Inflation
During these weeks, the action contends that IBRX shares traded at artificially inflated prices. Investors purchased stock without knowledge that the promotional claims allegedly violated federal drug promotion regulations. ANKTIVA was approved solely for a specific type of bladder cancer. According to the complaint, bladder cancers represented only an estimated 4.2% of new cancer cases in 2025. The drug's efficacy was established only in combination with BCG, and a cohort studying ANKTIVA as a single agent was stopped early for futility.
March 13, 2026: The FDA Warning Letter Is Issued
The FDA's Office of Prescription Drug Promotion issued a Warning Letter to ImmunityBio's CEO at the Company's Culver City, California facility. The letter determined that both a TV advertisement and the January podcast were "false or misleading" and that the promotional materials misbranded ANKTIVA in violation of the Federal Food, Drug, and Cosmetic Act. The FDA characterized the claims as "especially concerning from a public health perspective."
March 24, 2026: The Corrective Disclosure Reaches Investors
The Warning Letter was publicized, and Bloomberg reported the story under the headline "ImmunityBio Plunges After Getting FDA Warning on Cancer Drug." IBRX shares fell 21% in a single session. The Company subsequently removed the podcast from its website.
Timeline of Alleged Disclosure Failures
- January 19, 2026: Podcast broadcast with claims ANKTIVA could treat "all cancers" and prevent cancer from radiation exposure
- January 19, 2026: On-screen graphic labeled ANKTIVA a "Cancer Therapeutic Vaccine (BioShield)"
- January 19, 2026 onward: Podcast linked on Company website, accessible to investors and patients
- March 13, 2026: FDA Warning Letter issued, citing false and misleading promotional communications
- March 24, 2026: Warning Letter publicized; IBRX shares declined 21% to $7.42
- Post-disclosure: Company removed podcast from its website
Submit your claim before the deadline or call Joseph E. Levi, Esq. at (212) 363-7500.
"Timely disclosure of material developments is fundamental to fair and efficient markets. The chronology in this case raises questions about why investors were not alerted to regulatory risks sooner." -- Joseph E. Levi, Esq.
About Levi & Korsinsky, LLP
For over two decades, Levi & Korsinsky has represented shareholders in securities class actions. Ranked in ISS Top 50 for seven consecutive years. Those wishing to serve as lead plaintiff must act by May 26, 2026.
Frequently Asked Questions About the IBRX Lawsuit
Q: When did ImmunityBio allegedly mislead investors? A: The class period runs from January 19, 2026 to March 24, 2026. The alleged fraud was revealed through the publicization of an FDA Warning Letter, causing a significant stock decline of 21%.
Q: How much did IBRX stock drop? A: Shares fell approximately 21%, a decline of $1.98 per share, after the FDA Warning Letter was publicized on March 24, 2026. Investors who purchased shares during the class period at artificially inflated prices may be entitled to compensation.
Q: What do IBRX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at [email protected] or (212) 363-7500. No immediate action is required to remain eligible as a class member.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What if I already sold my IBRX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.
Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.
Q: What if I missed the lead plaintiff deadline? A: The deadline applies only to investors seeking lead plaintiff appointment. Class members who miss it can still participate in any settlement or recovery.
CONTACT:\
Levi & Korsinsky, LLP\
Joseph E. Levi, Esq.\
Ed Korsinsky, Esq.\
33 Whitehall Street, 27th Floor\
New York, NY 10004\
Tel: (212) 363-7500\
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
Share this article