The Kiromic BioPharma class action lawsuit seeks to represent purchasers or acquirers of Kiromic BioPharma, Inc. (NASDAQ: KRBP): (a) common stock pursuant to the registration statement filed and a final prospectus (together, the “Offering Documents”) issued in connection with Kiromic BioPharma’s public offering that closed on July 2, 2021 (the “Offering”); and/or (b) common stock between June 25, 2021 and August 13, 2021, inclusive (the “Class Period”). The Kiromic BioPharma class action lawsuit – captioned Karp v. Kiromic BioPharma, Inc., No. 22-cv-06690 (S.D.N.Y.) – charges Kiromic BioPharma, certain of its top executive officers and directors, as well as the successor to the Offering’s underwriter with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.
If you suffered losses in Kiromic BioPharma stock and wish to serve as lead plaintiff of the Kiromic BioPharma class action lawsuit, please provide your information below. You can also contact Kiromic BioPharma Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Kiromic BioPharma class action lawsuit must be filed with the court no later than October 4, 2022. If you suffered losses in Kiromic BioPharma and have questions, please contact Kiromic BioPharma Loss Lawyer Timothy L. Miles today.
Allegations in the Kiromic BioPharmaClass Action Lawsuit
At the time of the Offering, Kiromic BioPharma presented itself as a target discovery and gene-editing company which utilized artificial intelligence to create immunotherapy products. While Kiromic BioPharma had no immunotherapy products on the market at the time, it had applications to begin human clinical trials for two new drug candidates, known as Investigational New Drug (“IND”) applications, pending with the U.S. Food and Drug Administration (“FDA”). The Offering Documents stated that Kiromic BioPharma could commence clinical trials within 30 days of those IND applications unless the FDA imposed a clinical hold.
The Kiromic BioPharma class action lawsuit alleges the Offering Documents failed to disclose that the FDA had, prior to the filing of the Offering Documents, imposed a clinical hold, and in fact, contained statements indicating that it had not. In reality, Kiromic BioPharma had received communications from the FDA on June 16 and 17, 2021, informing it that the FDA was placing the IND applications for its two candidate products on clinical hold. However, the Offering Documents failed to disclose this information, instead representing that clinical testing was expected to proceed in the third quarter of 2021. Clinical testing did not proceed in the third quarter of 2021, nor was it likely given the FDA’s imposition of a clinical hold.
Then, on August 13, 2021, Kiromic BioPharma issued a press release which made passing reference to “clinical hold issues” but did not otherwise expand on what those issues were.
The Lead Plaintiff Process in the Kiromic BioPharma Class Action Lawsuit
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Kiromic BioPharma to seek appointment as lead plaintiff in the Kiromic BioPharma class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Kiromic BioPharma stock, and have further questions, contact Kiromic BioPharma Stock Loss Lawyer Timothy L. Miles today.
How Can a Kiromic BioPharma Stock Loss Lawyer Help Me?
A Kiromic BioPharma Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. A Kiromic BioPharma Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as a Kiromic BioPharma Stock Loss Lawyer who will work to recover the losses you sustained through a Kiromic BioPharma Class Action lawsuit.
Contact a Kiromic BioPharma Stock Loss Lawyer if You Suffered Losses in Kiromic BioPharma Stock
If you suffered losses in Kiromic BioPharma stock, contact Kiromic BioPharmastock loss lawyer Timothy L. Miles today about a Kiromic BioPharma class action lawsuit, and see what a Kiromic BioPharma stock Stock Loss Lawyer can do for you.
Timothy L. Miles, Esc.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
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