News Summary
Iovance Biotherapeutics, Inc. is currently facing a class action lawsuit that may affect investors who purchased its securities from May 9, 2024, to May 8, 2025. The lawsuit, led by Kahn Swick & Foti, LLC, alleges that the company failed to disclose key information, violating federal securities laws. Following a significant drop in share prices post financial reporting, investors are advised to file lead plaintiff applications by July 15, 2025. This case could impact biotechnology regulations and securities law.
San Francisco, CA – Iovance Biotherapeutics, Inc., a biotechnology company based in San Francisco, is facing a class action lawsuit that could impact investors who purchased its securities during a specified timeframe. The law firm Kahn Swick & Foti, LLC, along with Charles C. Foti, Jr., the former Attorney General of Louisiana, is urging investors to file lead plaintiff applications by July 15, 2025. The class action complaint was filed in the United States District Court for the Northern District of California.
The lawsuit pertains to securities purchased between May 9, 2024, and May 8, 2025, known as the “Class Period.” Investors who believe they have been affected by the alleged actions can reach out to KSF Managing Partner Lewis Kahn at 1-877-515-1850 or via email at lewis.kahn@ksfcounsel.com for more information.
The class action claims that Iovance Biotherapeutics and certain executives failed to disclose significant material information, thus violating federal securities laws. The implications of these allegations are particularly significant for shareholders who purchased stocks during the class period.
The legal troubles for Iovance escalated following its financial report on May 8, 2025. The company announced its first-quarter financial results for 2025, revealing a total product revenue of $49.3 million. This figure marks a decline of approximately 33% from the previous quarter’s revenue of $73.7 million. Also troubling for investors, Iovance drastically reduced its full fiscal year 2025 revenue guidance by 40%, changing it from an anticipated range of $450 million to $475 million down to $250 million to $300 million. The company attributed these adjustments to “recent launch dynamics” of its product, Amtagvi.
The financial announcement directly affected the company’s stock, causing a dramatic drop in share prices. On May 9, 2025, Iovance’s share price plummeted by 44.8%, falling from $1.42 to $1.75. This sharp decrease reflects the heightened anxiety and concern among investors regarding the company’s future performance following its significant guidance revision.
The case against Iovance Biotherapeutics is officially titled Farberov v. Iovance Biotherapeutics, Inc., et al., Case No. 25-cv-4199. Investors considering participation in the lawsuit should act promptly to meet the filing deadline.
Kahn Swick & Foti, LLC, which is spearheading this class action, is recognized as one of the premier boutique securities litigation law firms in the U.S. The firm works with both public and private institutional investors, along with retail investors who seek recovery of their investment losses. KSF operates out of several locations, including New York, Delaware, California, Louisiana, Chicago, and New Jersey, in addition to a representative office in Luxembourg.
The outcome of this class action lawsuit could potentially set a precedent in how securities regulations are enforced, especially regarding the responsibilities of companies to disclose critical financial information to their investors. As developments unfold, affected investors will be keenly watching Iovance’s responses, as well as the broader implications for the biotechnology sector and securities law.
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