The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Kiromic BioPharma, Inc. who purchased: (a) common stock issued in connection with the Company’s public offering that closed on July 2, 2021 and/or (b) common stock between June 25, 2021 and August 13, 2021, both dates inclusive.
The filed complaint alleges that the registration statement and prospectus issued in connection with the Company’s public offering that closed on July 2, 2021 (the “Offering Documents”) failed to disclose that the Food and Drug Administration (“FDA”) had, prior to the filing of these documents, imposed a clinical hold on the Company’s Investigational New Drug (“IND”) applications for its two new drug candidates. Given that the offering closed on July 2, 2021, more than thirty (30) days after the Company submitted the IND applications for its two immunotherapy product candidates, investors were assured that no clinical hold had been issued and clinical trials would commence.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until October 4, 2022 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.