#United States #New York #Levi & Korsinsky #Securities Fraud #Iovance

Iovance Biotherapeutics Under Legal Scrutiny

Iovance Biotherapeutics, Inc., a company traded on NASDAQ under the symbol IOVA, has recently found itself involved in a significant legal issue as it faces a class action lawsuit filed by Levi & Korsinsky, LLP. The lawsuit is centered on allegations of securities fraud that occurred between August 8, 2024, and May 8, 2025. Investors who feel they have been adversely affected during this timeframe are strongly encouraged to examine their legal options before the approaching deadline of July 14, 2025.

The Allegations

According to the details provided in the lawsuit, Iovance has allegedly misled its investors by issuing overly positive statements regarding its growth potential, while simultaneously concealing critical information about the company’s capabilities. In particular, it has been reported that Iovance lacked the necessary resources to meet demand for its innovative treatments, especially through its network of approved treatment centers.

After announcing disappointing second-quarter results for fiscal 2024 on July 25, 2024, Iovance significantly lowered its revenue guidance for the year, giving rise to justifiable concerns among investors. The company's management cited several factors for the lackluster performance, including scheduled maintenance that severely curtailed production capacity, lower-than-expected sales of its product Proleukin, and an inconsistent pace in treatments being initiated at its treatment centers. These disclosures had a dramatic impact on the company's stock price, which plummeted from $3.17 to $1.75 in just one day following the earnings report; a staggering decline of nearly 45%.

What’s Next for Investors

For Iovance investors who have suffered losses during the relevant period, there remains a window of opportunity to act. Individuals can request the Court to appoint them as lead plaintiff in this ongoing case. However, it is imperative to note that participating in any potential recovery does not necessitate serving as a lead plaintiff. This means that class members can still be eligible for compensation without bearing any direct costs. Levi & Korsinsky assures all class members that they can participate without any out-of-pocket expenses, offering a no-cost option to seek justice.

Why Levi & Korsinsky?

Levi & Korsinsky has a long-standing history of successfully advocating for shareholders' rights, having secured hundreds of millions of dollars over the past two decades for clients involved in complex securities litigation. With a dedicated team of over 70 professionals, the firm has established a reputation as a leader in securities class action lawsuits. For consecutive years, it has been recognized among the top firms in the United States for securities litigation, according to ISS Securities Class Action Services.

Conclusion

As Iovance Biotherapeutics navigates through these turbulent waters of legal scrutiny, affected investors are urged to assess their situation and consider contacting Levi & Korsinsky before the quickly approaching deadline. Those interested in pursuing their rights can reach out directly via email or phone for assistance and further details on how to participate in the class action lawsuit. This situation serves as a potent reminder of the importance of transparency and accountability in the biotech industry, as stakeholder interests are increasingly coming under closer examination.

For further inquiries, investors can contact Joseph E. Levi, or his associate Ed Korsinsky, at Levi & Korsinsky’s office in New York. If you've been impacted by these recent events regarding Iovance, now is the time to understand your rights and act accordingly.