Investors Urged to Join Class Action Against Iovance Biotherapeutics Over Financial Losses

Investors Encouraged to Join Class Action Against Iovance Biotherapeutics

The Gross Law Firm has issued a notice urging shareholders of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) to consider participating in a class action lawsuit aimed at securing recovery for financial losses suffered during specific dates. Shareholders who purchased shares of IOVA between May 9, 2024, and May 8, 2025, are encouraged to reach out to the firm for potential lead plaintiff appointments. Importantly, being appointed as lead plaintiff is not necessary to be included in the recovery process.

Key Allegations in the Class Action

During the class period, it is alleged that Iovance's executives communicated overly optimistic statements to investors, while deliberately withholding crucial information about the company's actual growth potential. The complaint suggests that the company was not adequately prepared to meet the perceived demand for its treatments, primarily due to deficiencies in its network of approved treatment centers and a lack of ability to effectively drive demand.

The situation escalated dramatically on July 25, 2024, when Iovance reported disappointing financial results for the second quarter of the fiscal year 2024. The company notably lowered its revenue projections for the entirety of fiscal 2024, citing numerous factors: 1) a scheduled maintenance that significantly reduced capacity at its iCTC, resulting in more than a month of diminished output, 2) lower-than-expected sales of Proleukin, and 3) inconsistent pacing in the initiation of treatment for patients by approved treatment centers.

The fallout from these disclosures was swift, with Iovance's stock price plummeting from a closing market value of $3.17 per share on May 8, 2025, to a mere $1.75 per share the following day, marking an alarming decrease of approximately 44.8% in just one day.

Deadline for Class Action Participation

Shareholders interested in joining the class action should promptly register, with a crucial deadline set for July 14, 2025. The Gross Law Firm emphasizes that registration is vital for all shareholders who purchased IOVA shares during the specified timeframe, as it allows for tracking and monitoring of the case's progress through an exclusive portfolio management system.

In its commitment to investor rights, the Gross Law Firm assures that there are no fees or obligations for participation in the case, making it an accessible opportunity for affected investors seeking recovery.

Why Choose The Gross Law Firm?

The Gross Law Firm is recognized on a national scale for its class action litigation, dedicated to protecting the interests of investors who have encountered losses due to misleading corporate practices or fraud. The firm aims to ensure accountability within businesses and strives for a resolution that upholds the principles of corporate responsibility. With a dedicated team ready to provide comprehensive legal support, the Gross Law Firm remains steadfast in seeking justice for its clients, regardless of the outcome of prior cases.

If you have lost money with Iovance Biotherapeutics, don't delay—contact The Gross Law Firm through their official channels to begin your journey toward recovery today. The firm can be reached via their website at this link, or by phone at (646) 453-8903 for more information on the lawsuit or to discuss your rights as a shareholder.