The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kiromic BioPharma, Inc. (NASDAQ: KRBP) 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 action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the KRBP lawsuit alleges that The 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.
Shareholders have until October 4, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.