ImmunityBio’s Shareholder Reforms Agreement Gets Court Sendoff

ImmunityBio Inc.'s current and former leadership garnered a court’s final blessing to end stockholder allegations they caused the company to overstate regulatory approval odds for its bladder cancer therapy.

The biotechnology company agreed to add a new independent director to its board among other reforms lasting for at least four years, Judge Gonzalo P. Curiel said while granting final approval of the settlement. The US District Court for the Southern District of California judge on Wednesday stamped a fee and expense award of $850,000 to the investors’ counsel to be paid by ImmunityBio’s insurers.

• ImmunityBio said in 2023 the ...