Act Now: BigBear.ai and Iovance Investors Face Crucial Class Action Deadlines

Investors holding shares of BigBear.ai (BBAI) and Iovance Biotherapeutics (IOVA) are approaching critical junctures in their respective class action lawsuits—deadlines that could determine their ability to recover losses caused by alleged corporate mismanagement and financial misconduct. With deadlines looming on June 10, 2025, for BBAI and July 14, 2025, for IOVA, the stakes are high: inaction could mean forfeiting the chance to seek compensation for devastating stock declines and misrepresented prospects.

BigBear.ai (BBAI): Accounting Failures Trigger Restatements and a 15% Stock Drop

BigBear.ai's troubles stem from improper accounting of its $200 million 2026 Convertible Notes, which led to restated financial statements for the period since 2021. The company admitted to a material weakness in internal controls over financial reporting, revealing that it misclassified the notes' conversion option as a derivative exception—a mistake that inflated its financial health.

The fallout was swift:
- On March 18, 2025, BBAI's stock plunged 15% to $2.97 after announcing delayed 10-K filings and restatements.
- A further 9% drop to $3.19 followed on March 26, as the restated 10-K confirmed the systemic accounting flaws.

The lawsuit, filed in Virginia's Eastern District Court, alleges violations of securities laws and seeks recovery for investors who bought shares between March 31, 2022, and March 25, 2025. To qualify as a lead plaintiff, investors must act by June 10, 2025.

Iovance Biotherapeutics (IOVA): Revenue Guidance Collapse and ATC Mismanagement

Iovance's case revolves around misleading claims about its Authorized Treatment Centers (ATCs) and the commercial viability of its cancer therapy, Amtagvi. Despite touting ATCs as a “key demand driver,” the company allegedly hid operational failures, including:
- Delayed patient treatment timelines at new ATCs.
- Ineffective sales teams and high patient drop-offs due to poor selection processes.

The consequences were catastrophic:
- On May 8, 2025, Iovance slashed its 2025 revenue guidance from $450–475 million to $250–300 million, citing “recent launch dynamics” and ATC inefficiencies.
- Shares plummeted 44.8% the next day, closing at $1.75—a stark contrast to its $3.17 open.

The California-based lawsuit, Sundaram v. Iovance, accuses the company of securities fraud. Investors holding shares from May 9, 2024, to May 8, 2025, have until July 14, 2025, to seek lead plaintiff status.

Why Act Now? The Risks of Inaction

1. Lost Recovery Opportunities: Missing the deadlines means losing the right to join the class action or influence its outcome.
2. Contingency Fees Protect Investors: No upfront costs are required—lawyers like Bleichmar Fonti & Auld LLP and Robbins Geller Rudman & Dowd LLP work on a contingency basis, meaning they only get paid if compensation is secured.
3. Strategic Leverage: Lead plaintiffs shape litigation strategies, settlement terms, and recoveries. For BBAI, this includes addressing $200 million in accounting misstatements, while IOVA's case focuses on $200 million in lost revenue guidance.

What Investors Should Do

• Contact Legal Counsel: Submit loss forms via the law firms handling the cases (e.g., ross@bfalaw.com for BBAI or attorney@aaron-dumas.com for IOVA).
• Document Losses: Retain purchase records and track holding periods to qualify for recovery.
• Monitor Deadlines: Set reminders for June 10 and July 14—delays could permanently bar participation.

Conclusion: Time Is Running Out

Both lawsuits underscore a critical truth: investors must act swiftly to protect their interests. For BBAI and IOVA shareholders, these deadlines are not mere bureaucratic hurdles—they represent the final chance to hold companies accountable for alleged fraud and secure compensation for losses. With contingency fee structures eliminating upfront risks, there's no justification for delay.

The clock is ticking.

Investors are urged to consult legal counsel immediately to explore their options.