Core Viewpoint - A class action has been filed against Kyverna Therapeutics, Inc. for allegedly providing misleading information in its IPO documents, leading to a significant decline in share price [1][2][3]. Group 1: Allegations and Legal Action - The complaint claims that the Offering Documents for Kyverna's IPO were negligently prepared and did not comply with regulatory standards [2]. - Specific statements in the Offering Documents regarding trial results were deemed false and misleading due to the omission of adverse data [2]. - By the time the action commenced, Kyverna's shares had dropped to $3.92, representing an over 82% decline from the IPO offering price [3]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs must submit their applications by February 7, 2025 [4]. - Participation in the class action is not mandatory for recovery; shareholders can remain absent class members if they choose [4]. Group 3: Company Background - Kyverna Therapeutics is a clinical-stage biopharmaceutical company focused on developing cell therapies for autoimmune diseases [1].
Robbins LLP Reminds Kyverna Therapeutics, Inc. Investors of the Pending Securities Fraud Class Action Against KYTX