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Iovance Biotherapeutics Lawsuit Overview

On June 13, 2025, Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) found itself at the center of a class action lawsuit filed by Levi & Korsinsky, LLP. This notice has been issued to investors who may have suffered losses due to alleged securities fraud between May 9, 2024, and May 8, 2025. This article will provide insights into the case, its background, and what affected investors should consider moving forward.

Background of the Allegations

The lawsuit alleges that Iovance executives made misleading statements while concealing crucial information about the company’s true growth potential. Throughout the class period, the defendants purportedly maintained a positive narrative about Iovance’s capabilities, even as they failed to act on troubling signs that suggested the company wouldn't meet its growth expectations.

Significant among these was the announcement made on July 25, 2024, which described disappointing financial results for the second quarter of fiscal 2024. As part of this announcement, Iovance downgraded its revenue guidance for the fiscal year, providing troubling reasons behind the figures.

Three primary factors were cited: an extended maintenance period for the iCTC, lower-than-expected Proleukin sales, and a slow commencement rate of treatments at authorized treatment centers (ATCs). Following this shocking news, Iovance’s stock experienced a dramatic plunge, falling nearly 44.8% in just one day—from $3.17 on May 8, 2025, to $1.75 per share the following day.

Implications for Investors

The implications of this lawsuit for affected investors are serious. If you are among those who incurred financial losses as a result of the claimed misrepresentation during the defined period, it’s crucial to act swiftly. Investors have until July 14, 2025, to request the court to approve them as lead plaintiffs in this matter.

Levi & Korsinsky emphasizes that you do not need to be a lead plaintiff to benefit from any potential recovery. The firm reassures that the legal process will not involve any out-of-pocket costs or fees for class members, further encouraging investors to participate without financial hesitation.

Why Trust Levi & Korsinsky?

Levi & Korsinsky has built a strong reputation in the legal field with over 20 years of experience successfully representing aggrieved shareholders. The firm has recovered hundreds of millions of dollars, making it a notable contender in high-stakes securities litigation. With a dedicated team of over 70 professionals, the firm has consistently ranked in the Top 50 Report from ISS Securities Class Action Services, underscoring its capabilities in navigating complex cases effectively.

Key Contacts

Investors seeking more information about the lawsuit can reach out to Joseph E. Levi directly via email at email protected] or by phone at (212) 363-7500. Further information and a submission form for those impacted can be found on their website at [Levi & Korsinsky's official site.

Conclusion

The situation surrounding Iovance Biotherapeutics is fluid, and its ramifications are being closely monitored by investors and analysts alike. If you believe you are entitled to compensation due to the company’s alleged securities law violations, make sure to consult with Levi & Korsinsky before the July 14 deadline. Your proactive approach could secure your financial interests during this tumultuous time.