Securities Class Action Filed for Iovance Biotherapeutics Shareholders Over Misleading Statements

Shareholder Alert: Iovance Biotherapeutics, Inc. Securities Class Action



The Gross Law Firm has recently announced the initiation of a securities class action lawsuit aimed at protecting the interests of shareholders of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA). This legal action comes after a significant drop in the company’s stock price, which can be attributed to allegations of misleading statements and practices outlined in the complaint.

Overview of the Class Action



The shareholders involved in this class action are those who purchased shares of Iovance Biotherapeutics during the class period from May 9, 2024, to May 8, 2025. The firm is calling for affected investors to come forward in order to discuss the possibility of being appointed as lead plaintiff in this case. However, having the lead plaintiff title is not a prerequisite for taking part in any potential recovery.

Allegations Against Iovance Biotherapeutics



According to the details provided in the complaint, the allegations focus on a series of overly positive statements made by the company that did not align with the actual circumstances regarding its growth potential. Specifically, Iovance is accused of failing to disclose critical information concerning its ability to meet the demand for its treatments through its approved treatment centers.

On July 25, 2024, Iovance Biotherapeutics disclosed its financial results for the second quarter of fiscal 2024 and concurrently lowered its revenue forecast for the complete fiscal year 2024. The company cited several reasons for this decline:
1. The scheduled maintenance of the iCTC had reduced operational capacity for over a month;
2. Sales of Proleukin were lower than expected;
3. The variable speed at which approved treatment centers began treating patients.

In light of these revelations, there was a rapid decline in the company's stock price. On May 8, 2025, shares closed at $3.17, but fell sharply to $1.75 within a single day following the announcement, indicating a staggering drop of approximately 44.8%.

Important Registration Deadlines



Shareholders are urged to register their information before the deadline of July 14, 2025, to be included in this class action suit. To facilitate the involvement of interested parties systematically, the law firm will provide enrolled shareholders with updates through a portfolio monitoring system throughout the duration of the case.

Next Steps for Affected Shareholders



Once registered, shareholders who purchased shares of IOVA during the mentioned timeframe will receive necessary communications and updates regarding the progression of this legal matter. Participation in the class action involves no financial obligation for the shareholders, and the legal team aims to ensure that investors who suffered losses are properly compensated.

Why Choose Gross Law Firm?



The Gross Law Firm has established its reputation as a leader in class action lawsuits, fiercely advocating for the rights of investors who have faced adversities through fraudulent or unethical practices in business. The firm's commitment extends beyond mere litigation; it aims to promote accountability among companies to uphold ethical standards in their operations.

For more information or to register your claim, affected shareholders can reach out to the Gross Law Firm via their online submission form or by calling their office directly. Your rights as an investor deserve protection, and engaging with established legal experts is a crucial step in seeking justice.

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Contact Information


For inquiries, you can contact The Gross Law Firm at the following:
  • - Address: 15 West 38th Street, 12th Floor, New York, NY, 10018
  • - Email: [email protected]
  • - Phone: (646) 453-8903

Topics Financial Services & Investing)

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