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Securities

Jul. 16, 2025

12 firms vie for lead counsel in Iovance stock drop lawsuit

Twelve firms compete for lead counsel in Iovance Biotherapeutics securities lawsuit, citing large settlements and client losses after a 44% stock drop due to misleading revenue forecasts.

Twelve firms are battling to be appointed lead counsel in a putative securities class action accusing Iovance Biotherapeutics of causing its stock price to drop 44% in a single day by misrepresenting the anticipated demand for one of its cancer treatments.

In the competing motions filed Monday, some of the firms cited their history of securing large settlements on behalf of investors to sway U.S. District Judge Eumi K. Lee in San Jose. Others claimed their clients' sizable lo...

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