Core Viewpoint - Zenas BioPharma, Inc. is facing a class action lawsuit due to allegations of misleading information in its IPO registration statement, particularly regarding its financial sustainability and operational funding timeline [1][3][4]. Group 1: Class Action Lawsuit Details - The class action lawsuit, titled Buathongsri v. Zenas BioPharma, Inc., allows investors who purchased Zenas BioPharma securities during its IPO on September 13, 2024, to seek lead plaintiff status by June 16, 2025 [1][5]. - The lawsuit claims that Zenas BioPharma overstated its ability to fund operations, stating it could sustain for 24 months instead of the actual 12 months disclosed later [3][4]. - As of April 15, 2025, Zenas BioPharma's stock price was $8.72, which is 48.7% lower than the IPO price of $17.00 per share [4]. Group 2: Company Background - Zenas BioPharma is a clinical-stage biopharmaceutical company focused on developing immunology-based therapies [2]. - The company sold over 13 million shares at $17.00 each during its IPO [2]. Group 3: Legal Representation - Robbins Geller Rudman & Dowd LLP is representing the investors in the class action lawsuit and is recognized as a leading law firm in securities fraud litigation [6]. - The firm has a strong track record, having recovered over $2.5 billion for investors in 2024 alone, and has been ranked 1 in securities class action services for four out of the last five years [6].
ZBIO INVESTOR ALERT: Zenas BioPharma, Inc. Investors with Substantial Losses Have Opportunity to Lead Securities Class Action Lawsuit