Core Viewpoint - The article discusses a federal securities class action lawsuit against Kyverna Therapeutics, Inc. due to alleged violations of federal securities laws related to its initial public offering (IPO) [4][6]. Group 1: Legal Proceedings - Faruqi & Faruqi, LLP is investigating potential claims against Kyverna and has set a deadline of February 7, 2025, for investors to seek the role of lead plaintiff in the class action [4]. - The lead plaintiff is defined as the investor with the largest financial interest in the relief sought by the class, who will oversee the litigation on behalf of the class members [1]. Group 2: Allegations Against Kyverna - The complaint alleges that Kyverna and its executives misrepresented and omitted critical information regarding the results of clinical trials for KYV-101 in the registration statement and prospectus used during the IPO [6]. - Specifically, the company claimed patient "improvement" in certain indicators while failing to disclose adverse data known at the time of the IPO [6]. Group 3: Financial Impact - Following the emergence of the true facts post-IPO, Kyverna's shares experienced a significant decline, trading as low as $3.92 per share, which represents a drop of over 82% from the offering price [7]. - Investors who suffered losses exceeding $50,000 are encouraged to contact the law firm to discuss their legal options [3].
SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Kyverna Therapeutics