Core Viewpoint - Zenas BioPharma, Inc. is facing a securities class action lawsuit due to alleged misrepresentation of its financial condition during its September 2024 IPO, with a significant drop in stock value following the revelation of its actual funding capabilities [4]. Group 1: Lawsuit Details - The lawsuit was filed in the U.S. District Court for the District of Massachusetts, claiming that Zenas BioPharma overstated its operational funding period from 24 months to only 12 months [4]. - Following the disclosure of its true financial status, Zenas BioPharma's stock price fell nearly 49%, closing at 8.72 on April 15, 2025 [4]. - Investors who purchased shares during the IPO period are eligible to seek appointment as lead plaintiff, with a deadline set for June 16, 2025 [1]. Group 2: Role of Lead Plaintiff - The lead plaintiff will represent the class and guide the litigation strategy and settlement process, playing a significant role in overseeing the case [5]. - Any shareholder who purchased during the IPO can participate in recovery, but the lead plaintiff has a more active role [5]. Group 3: Cohen Milstein's Reputation - Cohen Milstein Sellers & Toll PLLC is recognized as a leading firm in securities fraud litigation, with over 100 attorneys across eight offices [6]. - The firm has a history of securing billions for investors, including a notable recovery of over 1 billion in the Wells Fargo Securities Litigation [7].
ZBIO Investor Reminder: Cohen Milstein Encourages Zenas BioPharma Investors to Consider Leading Class Action Following IPO Stock Collapse