{"id":839018,"date":"2025-04-17T20:03:10","date_gmt":"2025-04-18T00:03:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-zenas-biopharma-inc-zbio\/"},"modified":"2025-04-17T20:03:10","modified_gmt":"2025-04-18T00:03:10","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-zenas-biopharma-inc-zbio","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-zenas-biopharma-inc-zbio\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Zenas BioPharma, Inc. (ZBIO)"},"content":{"rendered":"
\n

NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Zenas BioPharma, Inc. (\u201cZenas BioPharma\u201d or the \u201cCompany\u201d) (NASDAQ: ZBIO) securities in connection with the initial public offering (the \u201cIPO\u201d) held on or around September 13, 2024 (the \u201cClass Period\u201d) and\/or which said securities are traceable thereto. The lawsuit seeks to recover damages for the Company\u2019s investors under the federal securities laws.<\/p>\n

The Complaint alleges that the Registration Statement contained false and\/or misleading statements and\/or failed to disclose that: (i) Zenas BioPharma materially overstated the amount of time that it would be able to fund its operations using existing cash and expected net proceeds from the IPO; and (ii) as a result, Defendants\u2019 public statements were materially false and misleading at all relevant times and negligently prepared.<\/p>\n

According to the Complaint, on November 12, 2024, shortly after the IPO, the Company filed with the SEC its quarterly report on Form 10-Q for the period ended September 30, 2024 (the \u201c3Q24 Report\u201d). The Complaint alleges that in pertinent part, the 3Q24 Report stated that the Company could fund its operations for the following twelve months, not twenty-four, as it had stated in the Registration Statement. The Complaint alleges that since the IPO, and as a result of the disclosure of material adverse facts omitted from Zenas BioPharma\u2019s Registration Statement, Zenas BioPharma\u2019s share price has fallen substantially below its IPO price, damaging Plaintiff and Class members. According to the Complaint as of the close of trading on April 15, 2025, the closing price of Zenas BioPharma stock was $8.72, 48.7% below the IPO price.<\/p>\n

Investors who purchased or otherwise acquired shares of Zenas BioPharma should contact the Firm prior to the June 16, 2025 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
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\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, April 17, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Zenas BioPharma, Inc. (\u201cZenas BioPharma\u201d or the \u201cCompany\u201d) (NASDAQ: ZBIO) securities in connection with the initial public offering (the \u201cIPO\u201d) held on or around September 13, 2024 (the \u201cClass Period\u201d) and\/or which said securities are traceable thereto. The lawsuit seeks to recover damages for the Company\u2019s investors under the federal securities laws. The Complaint alleges that the Registration Statement contained false and\/or misleading statements and\/or failed to disclose that: (i) Zenas BioPharma materially overstated the … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Zenas BioPharma, Inc. (ZBIO)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-839018","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Zenas BioPharma, Inc. 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