IOVANCE BIOTHERAPEUTICS, INC. SHAREHOLDERS MAY HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES
Iovance Biotherapeutics, Inc.
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ: IOVA) resulting from allegations that Iovance might have issued misleading information to the investing public.
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New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Iovance Biotherapeutics, Inc. (“Iovance” or the “Company”) (NASDAQ: IOVA) resulting from allegations that Iovance might have issued misleading information to the investing public.
On May 18, 2021, after the market closed, Iovance issued a press release updating the public on its lead asset, the melanoma treatment lifileucel. The release stated that, after receiving feed back from the U.S. Food and Drug Administration (“FDA”) regarding potency assays for lifileucel, the Company was planning to delay its submission of a biologics license application (“BLA”) for lifileucel until the second half of 2021.
On this news, the Company’s stock price fell nearly 13% in post-market trading on May 18, 2021.
Then, on May 19, 2021, the Company filed a Form 8-K with the SEC which announced that the Company’s Chief Executive Officer, Maria Fardis, was resigning as President, CEO and a director of the Company.
Shares of Iovance are trading at $16.78, down over 37%, in afternoon trading on May 19, 2021.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Joseph Seidman, Jr.
Bernstein Liebhard LLP