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Biotech / Medical : ImmunityBio converts from Immunomedics -- Ignore unavailable to you. Want to Upgrade?

To: zagnut1 who wrote (1040)	5/25/2025 3:38:32 PM
From: End2War	Respond to of 1229

It looks like there are two separate settlements, per SuperGrok, There are two separate settlements involving ImmunityBio, Inc.: Securities Class Action Settlement (In re ImmunityBio, Inc. Securities Litigation, Case No. 3:23-cv-01216-GPC-VET): Terms: $10.5 million cash payment to compensate investors for securities fraud claims related to misrepresentations about Anktiva’s FDA approval prospects and manufacturing issues (March 10, 2021–May 10, 2023). Details: Filed January 28, 2025; preliminarily approved March 17, 2025; final hearing June 13, 2025. No mention of corporate governance reforms. Source: Stipulation of Settlement at www.ImmunityBioSecuritiesSettlement.com. Derivative Settlement (Case number not specified): Terms: Includes adding an independent board member and amending disclosure and audit committee charters to address fiduciary duty breach allegations for inadequate oversight and concealment of manufacturing issues. Details: Filed May 22, 2025, in the Southern District of California. No monetary amount mentioned. Source: Bloomberg Law article (May 23, 2025). Conclusion: The $10.5 million settlement (securities class action) and the board member addition (derivative action) are distinct due to different claims (securities fraud vs. fiduciary duty), remedies (monetary vs. governance reforms), and filing dates. The securities settlement does not include the board member provision, confirming two separate cases.