Kiromic BioPharma, Inc. Shareholder Reminder: Kessler Topaz Meltzer & Check, LLP Reminds KRBP Investors of Securities Fraud Class Action Lawsuit Filed On Their Behalf
The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed against Kiromic BioPharma, Inc. ("Kiromic") (NASDAQ: KRBP). The action charges Kiromic with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company's business, operations, and prospects. As a result of Kiromic's materially misleading statements and omissions to the public, Kiromic investors have suffered significant losses.
CLICK HERE TO SUBMIT YOUR KIROMIC LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/kiromic-biopharma-inc?utm_source=PR&utm_medium=link&utm_campaign=kiromic&mktm=r
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LEAD PLAINTIFF DEADLINE: OCTOBER 4, 2022
CLASS PERIOD: PURCHASED COMMON STOCK BETWEEN JUNE 25, 2021 AND AUGUST 5, 2022
CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS:
Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.
KIROMIC'S ALLEGED MISCONDUCT
Kiromic, however, had received communications from the FDA on June 16 and 17, 2021, prior to the IPO, informing the company that the FDA was placing the IND applications for its two candidate products on clinical hold. The IPO 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.
On July 16, 2021, two weeks after the closing of Kiromic's IPO, Kiromic issued a press release revealing that it had received "comments" from the FDA regarding its IND product, "ALEXIS." Additionally, on August 13, 2021, Kiromic issued another press release wherein Kiromic made passing reference to "clinical hold issues" by the FDA regarding Kiromic's IND products, but did not otherwise expand on what those issues were. Since the true details of Kiromic's misrepresentations and omissions entered the market, the price and value of Kiromic's stock has declined significantly.
WHAT CAN I DO?
CLICK HERE TO SIGN UP FOR THE CASE
WHO CAN BE A LEAD PLAINTIFF?
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP