IBRX Investor Alert: ImmunityBio Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Soon-Shiong Allegedly Overstated ANKTIVA Efficacy: Levi & Korsinsky

Executive Accountability: Patrick Soon-Shiong Named in Securities Action

NEW YORK, May 04, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors that Dr. Patrick Soon-Shiong, Executive Chairman and Global Chief Scientific and Medical Officer of ImmunityBio, Inc. (NASDAQ: IBRX), is named as an individual defendant in a securities class action alleging he personally made false and misleading statements about the Company's lead biologic product, ANKTIVA. Shareholders who purchased IBRX securities between January 19, 2026 and March 24, 2026 and suffered losses are encouraged to request a free, no-obligation case evaluation or contact Joseph E. Levi, Esq. at jlevi@levikorsinsky.com or (212) 363-7500.

Following publicization of an FDA Warning Letter on March 24, 2026, IBRX shares fell $1.98 per share, a 21% decline, closing at $7.42.

Dr. Soon-Shiong's Role During the Class Period

Unlike many securities fraud cases where executives are named for signing SEC filings or approving earnings releases, Dr. Soon-Shiong is alleged to have been the direct source of the false statements at issue. On January 19, 2026, the complaint identifies Dr. Soon-Shiong as appearing personally on The Sean Spicer Show podcast, where he claimed ANKTIVA could "treat all cancers," advertised it as a “vaccine” for cancer, and promoted subcutaneous injection, a route of administration for which the drug is not approved. The FDA's Warning Letter specifically cited Dr. Soon-Shiong by name as the individual who made these representations.

What Dr. Soon-Shiong Allegedly Oversaw

As Executive Chairman and Global Chief Scientific and Medical Officer, Dr. Soon-Shiong occupied a dual role that gave him authority over both corporate strategy and scientific communications. The action contends he:

• Personally appeared on a nationally broadcast podcast to promote ANKTIVA for unapproved uses, including "all cancers" and cancer prevention after radiation exposure
• Described ANKTIVA as a "single jab" and "little vial that you inject subcutaneously" despite the drug being approved only for intravesical use
• Advertised ANKTIVA a "Cancer Therapeutic Vaccine" when the FDA has confirmed it is not a vaccine and has no demonstrated preventative effect
• Claimed ANKTIVA was promoting increased “Interleuken-15 (IL-15), which it characterized as "the most important molecule that could cure cancer" when clinical data from QUILT-3.032 do not support claims of ANKTIVA as a cure for cancer
• Made these statements on a Company-linked podcast that was later removed from ImmunityBio's website following the FDA Warning Letter
  
  

"Individual officers who sign SEC certifications bear personal responsibility for the accuracy of corporate disclosures. When a senior executive personally makes promotional claims that the FDA later determines are false or misleading, questions of individual liability become especially significant," stated Joseph E. Levi, Esq.

Section 20(a) Context for Dr. Soon-Shiong

The complaint asserts Dr. Soon-Shiong is liable as a controlling person under Section 20(a) of the Securities Exchange Act. As pleaded, he directly participated in management at the highest levels, was privy to confidential proprietary information, and was involved in the dissemination of the false statements at issue. His position gave him the power and authority to cause the Company to engage in the alleged wrongful conduct that artificially inflated the market price of IBRX securities.

Contact Levi & Korsinsky for a confidential loss assessment at no cost or call (212) 363-7500.

LEAD PLAINTIFF DEADLINE: May 26, 2026

About Levi & Korsinsky, LLP

Levi & Korsinsky, LLP, Top 50 securities litigation firm (ISS, seven consecutive years). Over 70 professionals. Hundreds of millions recovered for investors.

Frequently Asked Questions About the IBRX Lawsuit

Q: Who are the defendants named in the IBRX lawsuit? A: The complaint names ImmunityBio, Inc. and Dr. Patrick Soon-Shiong, Executive Chairman and Global Chief Scientific and Medical Officer, as defendants. Dr. Soon-Shiong is alleged to have personally made the false and misleading promotional statements that triggered the FDA Warning Letter.

Q: What is the IBRX class action lawsuit about? A: A securities class action has been filed against ImmunityBio alleging materially false and misleading statements between January 19, 2026 and March 24, 2026 regarding the capabilities of ANKTIVA. Shares fell approximately 21% after an FDA Warning Letter was publicized, causing significant losses for shareholders.

Q: What do IBRX investors need to do right now? A: Gather brokerage records including purchase dates, share quantities, and prices paid. Contact Levi & Korsinsky for a free, no-obligation evaluation at jlevi@levikorsinsky.com or (212) 363-7500. No immediate action is required to remain eligible as a class member.

Q: What does it cost me to participate? A: Nothing. Securities class actions are handled on a pure contingency basis. No upfront fees, no retainer, no out-of-pocket costs.

Q: What if I already sold my IBRX shares -- can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold them. Investors who bought during the class period and sold at a loss may still participate.

Q: What is the IBRX lead plaintiff deadline? A: The deadline to apply for lead plaintiff appointment is May 26, 2026. This deadline applies only to investors seeking to serve as lead plaintiff. Class members who do not apply may still participate in any recovery without taking action before this date.

Q: How long will the lawsuit take to resolve? A: Securities class actions typically take two to four years from initial filing to resolution.

CONTACT:\

Levi & Korsinsky, LLP\

Joseph E. Levi, Esq.\

Ed Korsinsky, Esq.\

33 Whitehall Street, 27th Floor\

New York, NY 10004\

jlevi@levikorsinsky.com\

Tel: (212) 363-7500\

Fax: (212) 363-7171

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