#United States #San Diego #Class Action #Settlement #ImmunityBio

Proposed Settlement of Class Action Lawsuit Regarding ImmunityBio

Pomerantz LLP in collaboration with Holzer & Holzer, LLC, has recently announced the pendency and proposed settlement of a class action suit related to ImmunityBio, Inc. This action arises from purchases made between March 10, 2021, and May 10, 2023, involving the company's securities. It is crucial for investors to stay informed about these developments as they may affect their rights.

Background of the Lawsuit

This lawsuit, formally titled In Re ImmunityBio, Inc. Securities Litigation, was filed in the Southern District of California under case number 3:23-cv-01216-GPC-VET. Lead Plaintiff alleges that the defendants made significant misrepresentations regarding ImmunityBio's compliance with good manufacturing practices, its manufacturing capacity, and the approval prospects for its lead product candidate, Anktiva.

Despite the seriousness of these allegations, the defendants have persistently denied any wrongdoing. The proposed settlement aims to address the claims made against them, allowing for a resolution that is fair, reasonable, and adequate.

Details of the Proposed Settlement

The proposed settlement includes a financial consideration of $10.5 million earmarked for distribution among affected investors of ImmunityBio, Inc. This settlement is intended to compensate those who suffered damages during the class period. Eligible class members must submit a Proof of Claim and Release Form by July 7, 2025, to participate in the distribution of the settlement fund.

In terms of legal fees and expenses, Co-Lead Counsel will also seek a fee award from the settlement fund, as well as reimbursement for out-of-pocket expenses incurred during the litigation process.

Jurisdiction and Court Hearing

A critical hearing will be conducted on June 13, 2025, at the Edward J. Schwartz United States Courthouse in San Diego. During this session, Judge Gonzalo P. Curiel will consider whether the proposed settlement should be approved and ensure that the distribution plan is fair and reasonable.

Important Deadlines

• - May 23, 2025: Deadline for exclusion requests. Investors wishing to opt out of the settlement must submit their requests by this date.
• - July 7, 2025: Deadline for submitting the Proof of Claim and Release Form.
• - May 23, 2025: Deadline to file any objections to the settlement, which must be communicated to both the court and counsel for the parties involved.

Investors who have not already received detailed information regarding the settlement can find it on the official website: ImmunityBio Securities Settlement. Here, they can download the Notice of Proposed Settlement, the Proof of Claim form, and related documentation.

Conclusion

It is essential for all investors who purchased ImmunityBio securities within the designated period to stay vigilant and informed about this impending settlement process. By participating, they could obtain financial restitution for any losses incurred. As legal proceedings can be complex, consulting with a legal professional or reaching out to Co-Lead Counsel might provide necessary guidance in navigating this matter.