#United States #New York #class action lawsuit #Pomerantz Law Firm #Iovance Biotherapeutics

Pomerantz Law Firm Files Class Action Lawsuit Against Iovance Biotherapeutics

On July 2, 2025, the prominent law firm Pomerantz LLP announced the initiation of a class action lawsuit targeting Iovance Biotherapeutics, Inc., highlighted by the firm as a safeguard for investors facing significant losses. This legal move has attracted attention from investors who acquired Iovance securities during the designated Class Period and are now being summoned to reassess their position amid troubling financial disclosures from the company.

Important Details of the Class Action

The lawsuit encompasses allegations that Iovance and its executives may have engaged in securities fraud or other illegal business methodologies that adversely affected shareholders. Investors who believe they qualify to be lead plaintiffs have a critical deadline to act—July 14, 2025. Those interested in joining this class action are encouraged to reach out to Pomerantz’s legal team, with specific instructions provided for submitting inquiries and claims.

Recent Financial Performance Concerns

The urgency of the lawsuit is amplified by Iovance's recent financial disclosures, which were released after the market closed on May 8, 2025. The company reported a significant drop in total product revenue—falling from $73.7 million in the previous quarter to $49.3 million—demonstrating a worrying trend. Moreover, the company's guidance for total product revenue for the fiscal year 2025 has been notably reduced from a range of $450 million - $475 million down to $250 million - $300 million, indicating a drastic over 40% decline in expectations. These substantial revenue adjustments stem from ongoing challenges related to the launch dynamics of Amtagvi, Iovance’s leading product candidate.

Market Reactions

In response to the bleak financial projections, Iovance's stock took a significant hit on May 9, 2025, plummeting by $1.42 per share or 44.79%, landing at a closing price of $1.75 per share. This sharp decline is indicative of investor panic and suggests a loss of confidence in Iovance's ability to recover from these setbacks.

About Pomerantz LLP

Pomerantz LLP, which operates across several major cities including New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is recognized as a leading firm specializing in corporate, securities, and antitrust class action litigation. The firm was founded by Abraham L. Pomerantz, regarded as the dean of the class action bar, and has been a trailblazer in securities class actions ever since. Over its 85-year history, Pomerantz has helped recover substantial damages for the victims of securities fraud and corporate malfeasance, consistently advocating for the rights of shareholders.

Interested parties can find further details and the formal complaint at Pomerantz's website. This case emphasizes the importance of vigilance among investors and the firm’s commitment to protecting the rights and interests of those who may have fallen victim to corporate wrongdoing.

For any inquiries, including those regarding potential participation in the class action, investors can contact Danielle Peyton at Pomerantz LLP via email or phone. The situation remains fluid, and timely action is critical for affected investors.

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