NEW YORK, Aug. 10, 2022 /PRNewswire/ -- Attorney Advertising Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Kiromic BioPharma, Inc. ("Kiromic" or the "Company") (NASDAQ: KRBP) and certain of its officers, on behalf of a class consisting of all persons and entities that purchased or otherwise acquired Kiromic: (1) common stock pursuant and/or traceable to the Offering Documents (defined below) and/or (2) securities between June 25, 2021, and August 13, 2021, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/krbp.
This class action seeks to recover damages against Defendants for alleged violations of the Securities Act of 1933 (the "Securities Act") and the Securities Act of 1934 (the "Exchange Act").
The Complaint alleges that the Offering Documents contained untrue statements of material fact, omitted material facts necessary to make the statements contained in them not misleading, and omitted to state material facts required under the statute, rules, and regulations governing the preparation of public offering documents for securities. Specifically, that (1) the Offering Documents failed to disclose that the FDA had, prior to the filing of the Registration Statement and Prospectus, imposed a clinical hold, and in fact, contained statements indicating that it had not; and (2) the Offering Documents failed to disclose they had received communications from the FDA on June 16 and 17, 2021 informing it that the FDA was placing the IND applications for its two candidate products on clinical hold, instead representing that clinical testing was expected to proceed in the third quarter of 2021, which did not, nor was it likely given the hold; and (3) as a result of these misleading statements and omissions, and the resulting decline in the market value of the Company's stock, Plaintiff and the putative class have suffered significant losses.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/krbp or contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Kiromic you have until October 4, 2022, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | firstname.lastname@example.org
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