Core Viewpoint - A class action has been filed against Zenas BioPharma, Inc. for allegedly misleading investors during its IPO by overstating the duration it could fund its operations with existing cash and expected net proceeds from the IPO [1][2]. Group 1: Allegations and Financial Impact - The complaint states that Zenas BioPharma failed to disclose that it could only fund its operations for twelve months instead of the twenty-four months previously claimed in the Registration Statement [2]. - Following the disclosure of these material adverse facts, Zenas BioPharma's share price has significantly declined, closing at $8.72 on April 15, 2025, which is 48.7% lower than its IPO price [2]. Group 2: Class Action Participation - Shareholders interested in serving as lead plaintiffs in the class action must file their papers by June 16, 2025, and they do not need to participate in the case to be eligible for recovery [3]. - The class action allows shareholders to act collectively against the alleged wrongdoing of Zenas BioPharma [3]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders will not incur any fees or expenses unless there is a recovery [4].
Shareholder Alert: Robbins LLP Informs Stockholders of the Zenas BioPharma, Inc. Class Action Lawsuit