Kahn Swick & Foti, LLC Leads Investor Class Action Against Iovance Biotherapeutics
Kahn Swick & Foti, LLC Leads Investor Class Action Against Iovance Biotherapeutics
Kahn Swick & Foti, LLC (KSF), a esteemed law firm known for its securities litigation, is actively seeking to identify lead plaintiffs for a securities fraud class action lawsuit against Iovance Biotherapeutics, Inc. This lawsuit arises from significant financial discrepancies revealed in the company’s latest performance reports.
The firm, led by Charles C. Foti, Jr., a former Attorney General of Louisiana, reminds investors who experienced losses exceeding $100,000 following their investment in Iovance from May 9, 2024, to May 8, 2025, that they have until July 15, 2025, to file their lead plaintiff applications. The case is currently in motion in the United States District Court for the Northern District of California.
Background on the Case
The securities fraud lawsuit stems from accusations that Iovance and several of its executives failed to disclose crucial material information during the designated Class Period. This misrepresentation allegedly resulted in significant financial losses for investors who trusted the reliability of the company's statements regarding its financial health and operational strategies.
Iovance’s troubles became evident on May 8, 2025, when the company released its first quarter 2025 financial results. These results disclosed a drastic drop in quarterly product revenue, reporting $49.3 million, a stark decrease from the previous quarter’s $73.7 million. Additionally, Iovance slashed its full fiscal year 2025 total product revenue guidance from an anticipated $450 million - $475 million down to $250 million - $300 million. This abrupt revision caught investors off guard and triggered a steep decline in share price, plummeting 44.8% overnight—from $1.42 per share to $1.75 per share—against an unusually heavy trading volume.
The Role of Lead Plaintiffs and Investor Rights
Investors embarking on this legal journey onto the litigation have a unique opportunity; selected lead plaintiffs can guide the direction of the case, which includes selecting their legal representation. The role enables them to contribute significantly to the strategy and discussions surrounding settlement negotiations.
For those who became shareholders or otherwise purchased Iovance securities during the defined period, this is a chance to reclaim their losses. KSF encourages affected investors to reach out without obligation or cost. Interested parties may contact KSF’s Managing Partner Lewis Kahn directly by calling 1-877-515-1850 or by email at email protected]. Detailed information regarding the case can also be found on the firm’s website at [www.ksfcounsel.com/cases/nasdaqgm-iova/.
About Kahn Swick & Foti, LLC
KSF has established itself as a premier firm specializing in securities litigation across the United States. With multiple office locations in New York, Delaware, California, Louisiana, Chicago, and New Jersey, KSF serves a diverse client base that includes public and private institutional investors. The firm prides itself on obtaining recoveries for individuals affected by fraudulent activities and corporate wrongdoings in the public markets. Recently, KSF was recognized for its settlements, ranking amongst the top 10 firms nationally by SCAS.
In this challenging time, Kahn Swick & Foti, LLC stands ready to assist investors in reclaiming their financial stability, ensuring that their rights are protected in the face of corporate misconduct.
For more information on KSF’s extensive legal services and updates, visit their official website and follow their various social media platforms provided above.
Topics Financial Services & Investing）
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