Investors of Iovance Biotherapeutics, Inc. Encouraged to Join Class Action Lawsuit

Iovance Biotherapeutics, Inc. Faces Class Action Lawsuit

Shareholders of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) who have experienced losses are urged to consider participating in a class action lawsuit facilitated by Levi & Korsinsky, LLP. This legal move aims to recover losses for investors adversely affected by supposed securities fraud that occurred from May 9, 2024, to May 8, 2025.

Background Information

Levi & Korsinsky, a well-regarded firm specializing in securities litigation, has issued a notification to affected Iovance investors indicating that a class action lawsuit has been initiated in response to significant financial declines linked to misleading statements made by the company. The action seeks redress for those who may have been unjustly impacted during the specified timeframe.

The lawsuit claims that during this period, Iovance’s management provided overly optimistic projections to its investors while simultaneously obscuring critical negative information regarding the company's actual growth potential. This discrepancy suggests that Iovance was not adequately prepared to meet market demand for its treatments, thereby misleading investors about its operational capabilities.

One notable incident occurred on July 25, 2024, when Iovance announced its second-quarter financial results. The company not only diminished its revenue expectations for the full fiscal year of 2024 but also offered reasons suggesting operational challenges. "The iCTC completed annual scheduled maintenance in December, and capacity was reduced by more than half for about one month," the statement indicated. Additionally, the firm pointed to disappointing sales of Proleukin and the slow pace at which treatment centers began patient care.

Following this disclosure, Iovance's stock price suffered a staggering decline of approximately 44.8% in just one day, plummeting from $3.17 per share on May 8, 2025, to $1.75 on May 9, 2025.

Next Steps for Investors

Investors who suffered losses during this pivotal timeframe have until July 14, 2025, to request to be designated as lead plaintiffs in this case. It’s important to note that participation in the lawsuit does not necessitate serving as a lead plaintiff to benefit from any potential recovery.

Levi & Korsinsky ensures that if you qualify as a class member, you may receive compensation without having to incur any upfront fees or costs. The firm emphasizes that there is no obligation or cost to participate in the class action.

Why Choose Levi & Korsinsky?

With over 20 years of experience in the field, Levi & Korsinsky has built a strong reputation for securing compensations amounting to hundreds of millions of dollars for affected shareholders. The firm has consistently ranked among the top securities litigation firms in the United States, as recognized by ISS Securities Class Action Services’ Top 50 Report. Their team, comprising over 70 skilled professionals, is dedicated to advocating for investors in complex cases, leveraging their extensive expertise to navigate complicated securities matters.

Contact Information

For affected Iovance investors seeking further information or to join the class action, they can reach out to Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. Further details can also be acquired through the firm's website at www.zlk.com.

In conclusion, if you are an investor who has faced financial losses due to Iovance's alleged misrepresentation, joining this class action may present an opportunity to reclaim your losses and seek justice.