LOS ANGELES, CA / ACCESSWIRE / August 17, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Kiromic BioPharma, Inc. ("Kiromic" or "the Company") (NASDAQ:KRBP) for violations of the federal securities laws.
Investors who purchased the Company's shares pursuant and/or traceable to the Company's initial public offering conducted on July 2, 2021 (the "IPO"), and/or between June 25, 2021 and August 13, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before October 4, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Kiromic received communications from the FDA on June 16 and 17, 2021, placing a clinical hold on its two candidate products. The Company failed to inform investors of this clinical hold despite the fact it learned of the hold before the IPO occurred. The Company's IPO offering documents stated that clinical testing would move forward in the third quarter of 2021. The Company did not proceed with this test due to the clinical hold. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Kiromic, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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SOURCE: The Schall Law Firm