PR Newswire
SAN DIEGO
, April 7, 2025 /PRNewswire/ —
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
|
IN RE IMMUNITYBIO, INC. |
No. 3:23-cv-01216-GPC-VET |
NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF CLASS ACTION
TO:
ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED IMMUNITYBIO, INC. (“IMMUNITYBIO”) (NASDAQ: IBRX) SECURITIES BETWEEN MARCH 10, 2021, AND MAY 10, 2023, BOTH DATES INCLUSIVE.
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Southern District of California (the “Court”), that a hearing will be held on June 13, 2025, at 1:30 p.m. before the Honorable Gonzalo P. Curiel, United States District Judge of the United States District Court for the Southern District of California, at the Edward J. Schwartz United States Courthouse, 221 West Broadway, San Diego, California 92101 for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration in the amount of ten million five hundred thousand dollars ($10,500,000.00) should be approved by the Court as fair, reasonable, and adequate; (2) whether the Plan of Allocation for distributing the proceeds from the proposed Settlement is fair and reasonable, and should be approved; (3) whether Co-Lead Counsel’s application for an award of attorneys’ fees, reimbursement of out-of-pocket expenses plus interest, and a compensatory award for Lead Plaintiff, all to be paid from the Settlement Fund, should be granted, and, if so, in what amount; and (4) whether the proposed Judgment should be entered and this Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement dated January 28, 2025 (the “Stipulation”) filed with the Court.
The proposed Settlement was reached on behalf of all persons who purchased or acquired ImmunityBio, Inc. (NASDAQ: IBRX) securities from March 10, 2021, to May 10, 2023, both dates inclusive (the “Settlement Class Period”) and were damaged thereby (the “Settlement Class”). The Settlement Class excludes the Defendants; members of the immediate family of the Defendants; the subsidiaries and affiliates of any Defendants; any person or entity who is a partner, executive officer, director or controlling person of the Defendants; any entity in which any Defendant has a controlling interest; and the legal representatives, heirs, successors and assigns of any such excluded party.
The case has been litigated since June 30, 2023. Lead Plaintiff alleges that, in violation of the U.S. federal securities laws, Defendants made material misrepresentations and/or omissions of material fact in public statements to the investing public regarding ImmunityBio’s compliance with current good manufacturing practices (“cGMP”), its manufacturing capabilities, and approval prospects for its lead product candidate, Anktiva. Defendants have denied and continue to deny these allegations or that they committed any act or omission giving rise to any liability or violation of the law. The Settlement will resolve the Action and the Released Claims as to the Defendants and the other Released Parties. Lead Plaintiff and the Settlement Class are represented by Co-Lead Counsel who may be reached by contacting: Jeremy Lieberman, Pomerantz LLP, 600 Third Avenue, 20th Floor, New York, NY 10016, (212) 661-1100 and/or Corey D. Holzer, Holzer & Holzer, LLC, 211 Perimeter Center Parkway, Suite 1010, Atlanta, GA 30346, (770) 392-0090.
If you purchased or acquired ImmunityBio stock during the Settlement Class Period, your rights may be affected by the proposed Settlement of this Action. To share in the distribution of the Net Settlement Fund, you must submit a Proof of Claim and Release Form no later than July 7, 2025. Unless you submit a written exclusion request, you will be bound by any Judgment rendered in the Action whether or not you submit a Proof of Claim and Release Form.
If you want to be excluded from the Settlement Class, you must submit a request for exclusion no later than May 23, 2025. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any Judgment entered in the Action pursuant to the Settlement.
If you are a Settlement Class member and do not exclude yourself, you have the right to object to the Settlement, Plan of Allocation, Co-Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses, or compensatory award to Lead Plaintiff. Any objection must be filed with the Court and sent to counsel for the Parties no later than May 23, 2025.
If you have not received a more-detailed, long-form Notice of Proposed Settlement of Class Action, Motion for Attorneys’ Fees and Expenses, and Settlement Fairness Hearing (“Notice”) and the Proof of Claim and Release Form, you may obtain copies of these documents and the Stipulation by downloading them online at: www.ImmunityBioSecuritiesSettlement.com. You may also contact the Claims Administrator at the following address to obtain copies:
ImmunityBio Securities Settlement
c/o Epiq
P.O. Box 2239
Portland, Oregon 97208-2239
[email protected]
Any questions regarding the Settlement should be directed to Co-Lead Counsel for the Settlement Class. PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, THE DEFENDANTS, OR DEFENDANTS’ COUNSEL REGARDING THIS NOTICE.
Dated: April 7, 2025
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF CALIFORNIA
URL: www.ImmunityBioSecuritiesSettlement.com
View original content:SOURCE Pomerantz LLP and Holzer & Holzer, LLC
