#United States #New York #Class Action #Gross Law Firm #Iovance Biotherapeutics

Iovance Biotherapeutics Faces Class Action Lawsuit

In a significant development for investors, The Gross Law Firm has alerted shareholders of Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) about a class action lawsuit. This comes as shareholders who purchased shares during a specified period are encouraged to seek participation in this legal process. The class period in question spans from May 9, 2024, to May 8, 2025, prompting shareholders to take swift action to protect their interests.

Allegations Against Iovance Biotherapeutics

The lawsuit centers on claims that throughout the designated class period, Iovance's executives made misleading statements to investors, projecting an overly optimistic view of the company's growth potential. Specific allegations highlight that the firm concealed crucial adverse facts that significantly challenge its ability to produce and meet demand for its treatments. Notably, there are concerns regarding Iovance's infrastructure, which purportedly hindered them from effectively capitalizing on the anticipated demand through its network of authorized treatment centers.

The situation escalated rapidly when Iovance announced its financial results for the second quarter of fiscal 2024. The company also significantly decreased its revenue forecast for the entire fiscal year 2024, attributing these changes to a series of unfortunate events, including a lengthy maintenance shutdown of iCTC and lower-than-expected sales of Proleukin. As a result, on May 9, 2025, Iovance's stock plummeted by approximately 44.8%, dropping from a closing price of $3.17 to $1.75 per share in just one day.

Importance of Registration for Shareholders

Shareholders affected by this situation are strongly urged not to delay in registering their information regarding this case. Registration offers them the possibility to be included in a portfolio monitoring service, keeping them informed about the lawsuit's progress. Additionally, the deadline for filing to be considered as a lead plaintiff in this case is July 14, 2025.

The Gross Law Firm highlights that individuals don’t need to lead the lawsuit to still participate in the recovery process. Therefore, all potential investors are advised to act promptly to secure their rights.

Why Choose The Gross Law Firm?

The Gross Law Firm has established itself as a nationally recognized class action law practice with a clear mission to uphold investors' rights against deceitful practices. The firm is dedicated to ensuring compliance with ethical standards and responsible business practices within the corporate sector. Through their tireless pursuit of justice, they aim to recover losses incurred by investors due to misleading information or fraudulent actions by companies.

Contact Information for Interested Shareholders

For those looking to obtain more information or to join the class action, The Gross Law Firm maintains a straightforward contact process. Interested shareholders can find further details on how to file a claim through their website, which provides essential forms for registration and updates about the lawsuit.

As this situation evolves, it is essential for investors in Iovance Biotherapeutics to follow these developments closely to safeguard their investments and ensure participation in potential recoveries.

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Contact Information:
The Gross Law Firm
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New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903