Shareholder Alert: Robbins LLP Notifies Investors of Class Action Lawsuit Against Kiromic Biopharma, Inc. (KRBP)

SAN DIEGO–(BUSINESS WIRE)–The class: Law firm in shareholder law Robbins LLP advises investors that a shareholder has filed a class action lawsuit on behalf of all persons or entities who have purchased or otherwise acquired securities of Kiromic Biopharma, Inc. (NASDAQ: KRBP) pursuant to the initial public offering (“ IPO”) of July 2021 of the Company, or between June 25, 2021 and August 13, 2021, for violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. Kiromic presents itself as a gene discovery and editing company that uses artificial intelligence to create immunotherapy products.

If you would like more information about the misconduct of Kiromic Biopharma Inc., click here.

What this case is about: Kiromic Biopharma, Inc. (KRBP) did not disclose that the FDA placed a clinical hold on its two drug candidates

According to the complaint, the offering documents in support of the IPO contained misrepresentations of material facts. The IPO was completed pursuant to a registration statement filed with the SEC on June 25, 2021 and a final prospectus dated June 29, 2021. Prior to this, on June 16 and 17, 2021, the Company received communications from the FDA indicating that the FDA was placing the company’s Investigational New Drug Applications for its two candidates on clinical hold. Rather than disclosing this information, Kiromic indicated that clinical trials were expected to take place in Q3 2021. However, clinical trials did not take place in Q3 2021, and it was not likely that the FDA imposed a clinical hold. When a proposed study is placed on clinical hold, no new subjects can be recruited to test the drug and patients testing the drug must be withdrawn.

Next steps: If you acquired shares of Kiromic Biopharma, Inc. as part of the Company’s IPO or between June 25, 2021 and August 13, 2021, you have until October 4, 2022, to ask the court to name you as the lead plaintiff in the class. A lead plaintiff is a representative party acting on behalf of the other class members to direct the litigation. You don’t have to be in the case to be eligible for a clawback.

All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.

Contact us for more information:

Aaron Dumas

(800) 350-6003

[email protected]

Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recoup losses, improving corporate governance structures and holding corporate executives responsible for their wrongdoings since 2002. To be notified if a class action lawsuit against Kiromic Biopharma, Inc. settles or to receive free alerts when corporate executives commit wrongdoing, sign up for Watch Inventory today.

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