Faruqi & Faruqi Reminds Kyverna Therapeutics Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 7, 2025 - KYTX

PRNewswire 12-Dec-2024 11:56 AM

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Kyverna To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $50,000 investing Kyverna common stock pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about February 8, 2024 (the "IPO" or "Offering") and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Kyverna Therapeutics, Inc. ("Kyverna" or the "Company") (NASDAQ:KYTX) and reminds investors of the February 7, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws through the registration statement and prospectus used to effectuate the Company's IPO misstated and/or omitted facts concerning the results of the Company's ongoing evaluation of KYV-101 in clinical trials. Specifically, the Company touted patient "improvement" in certain indicators while failing to disclose adverse data regarding one of Kyverna's trials, which adverse data was known to the Company at the time of the IPO. As a result, investors purchased Kyverna shares at artificially inflated prices.

As these true facts emerged after the Offering, the Company's shares fell sharply, severely harming investors. By the commencement of this action, Kyverna's shares traded as low as $3.92 per share, a decline of more than 82% from the Offering Price.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding Kyverna's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Kyverna class action, go to www.faruqilaw.com/KYTX or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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SOURCE Faruqi & Faruqi, LLP