ImmunityBio converts from Immunomedics Message Board

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Biotech / Medical : ImmunityBio converts from Immunomedics

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To: mannamal who wrote (1039)	5/25/2025 12:16:03 PM
From: zagnut1	Read Replies (1) of 1229

For those who are not able to open Bloomberg this is GROK’s summation of settlement: The ImmunityBio Board settled a shareholder lawsuit on May 23, 2025, by agreeing to add an independent member to its board and implement reforms, including amending its disclosure and audit committees’ charters. The lawsuit, filed in the US District Court for the Southern District of California, alleged that ImmunityBio’s leadership breached fiduciary duties by overhyping the FDA approval odds for its bladder cancer therapy, Anktiva, and concealing issues at a third-party manufacturing facility. This settlement addressed shareholder claims that these actions led to financial losses.

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