#United States #New York #Class Action #Securities Fraud #Zenas BioPharma

Investor Alert: Class Action Lawsuit Against Zenas BioPharma

Pomerantz LLP, a well-regarded law firm with a long history in securities litigation, has initiated a class action lawsuit against Zenas BioPharma, Inc., trading under NASDAQ as ZBIO. This legal move comes as the firm seeks to protect investors who have suffered losses linked to their investments in Zenas. The firm urges any affected parties to reach out and take necessary action ahead of important deadlines.

Background of the Lawsuit

The lawsuit stems from allegations that Zenas and some of its senior officers misled investors regarding the company’s financial health during and after its initial public offering (IPO) that took place on September 13, 2024. At the time of the IPO, Zenas sold approximately 13.235 million shares at a price of $17.00 each. However, the situation soon took a downturn when Zenas released its third-quarter financial report. It disclosed that its operations could only be funded for the next twelve months, contradicting earlier statements made during the IPO process that suggested a longer funding horizon of 24 months.

This significant discrepancy has led to sharp declines in the company’s stock price, provoking uncertainty and distress among investors who purchased shares during the IPO period. With the falling stock price, the allegations imply potential securities fraud and other unlawful business practices that could affect the integrity of Zenas’s operations and their disclosure practices.

Call to Action for Investors

Investors affected by these developments are advised that they have until June 16, 2025, to join the class action by petitioning the Court to be appointed as the Lead Plaintiff. It’s crucial that those who acquired Zenas securities during the IPO take prompt action. Interested investors can connect with Pomerantz LLP through Danielle Peyton at 646-581-9980 or via email at [email protected]. Potential class members are encouraged to provide their mailing address, phone number, and details concerning the number of shares they purchased.

Pomerantz’s Role in Securities Litigation

Pomerantz LLP has carved a niche as a premier firm in the domain of corporate and securities law, boasting over 85 years of dedicated service in pursuing justice for investors. The firm’s founder, Abraham L. Pomerantz, is known as a pioneer in the class action bar for bringing forth litigation against businesses that engage in fraudulent activities. Their ongoing commitment to safeguarding investor rights has led to numerous successful recoveries of multimillion-dollar settlements for class members through various lawsuits.

Conclusion

As the case against Zenas BioPharma develops, it is crucial for investors to remain vigilant and informed about their rights. The class action lawsuit presents a vital opportunity for affected investors to seek redress from potential misrepresentations that have led to substantial financial losses. With Pomerantz LLP leading the charge, investors can take proactive steps to safeguard their interests amidst a turbulent financial landscape. For more information regarding the complaint and the potential for participation in the upcoming legal proceeding, interested parties can visit Pomerantz law website.