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ImmunityBio and Gemini Space Station are facing securities class action lawsuits alleging investor misrepresentation, with the crisis resulting in a $2 billion loss in market capitalization. A lead plaintiff deadline of May 26, 2026, has been established for the lawsuit against ImmunityBio (IBRX), with the law firm Hagens Berman handling shareholder updates. The legal action alleges that misleading statements were made regarding the drug Anktiva, following a 21.1% drop in IBRX shares triggered by an FDA warning. Meanwhile, Gemini Space Station investors face a May 18, 2026, deadline regarding IPO-related fraud claims. These developments underscore the heightened regulatory scrutiny on biotechnology and emerging tech firms regarding the accuracy of corporate disclosures.
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