ImmunityBio Faces Anktiva Misrepresentation Lawsuits

ImmunityBio, a publicly traded company, is facing multiple class action lawsuits from law firms including The Schall Law Firm and Kahn Swick & Foti. These lawsuits allege that ImmunityBio made false and misleading statements about its Anktiva drug, specifically overstating its capabilities. The legal actions were prompted by a warning letter issued by the United States — Food and Drug Administration to ImmunityBio's CEO, Richard Adcock, on March 13, 2026. The United States — Food and Drug Administration stated that ImmunityBio's promotional communications for Anktiva, a bladder cancer treatment, created a misleading impression that it could cure and prevent all cancer, violating the Federal Food, Drug, and Cosmetic Act. Following the public disclosure of this warning letter on March 24, 2026, ImmunityBio's shares fell by $1.98, a 21% decrease, closing at $7.42 per share. Investors who purchased ImmunityBio securities between January 19, 2026, and March 24, 2026, are encouraged to join the lawsuit, with a lead plaintiff application deadline of May 26, 2026. The case is pending in the United States — United States District Court for the Northern District of California.