WASHINGTON, May  09, 2025  (GLOBE NEWSWIRE) -- Nationally ranked securities law firm Cohen Milstein Sellers & Toll PLLC is actively continuing its search for investors willing to serve as lead plaintiff in a securities class action lawsuit filed against Zenas BioPharma, Inc. (NASDAQ: ZBIO). The complaint alleges materially misleading statements made in connection with the company’s September 2024 initial public offering (IPO). The deadline to file a motion for lead plaintiff is June 16, 2025.

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If you’d like to discuss this matter or your rights before signing up, please contact Molly J. Bowen, a partner at Cohen Milstein, at (202) 408-4600 or [email protected].

Allegations in the Complaint
The lawsuit, filed in the U.S. District Court for the District of Massachusetts, accuses Zenas BioPharma and several underwriters of overstating the Company’s financial runway in its IPO registration materials. Zenas BioPharma projected its available capital would last 24 months, but in its Q3 2024 financial filing, the company admitted it could only fund operations for 12 months. Following this disclosure, ZBIO shares dropped nearly 49%, closing at $8.72 as of April 15, 2025.

Why Lead Plaintiff Status Matters
The lead plaintiff acts on behalf of all class members in directing the litigation, including case strategy and settlement discussions. While not required to recover damages, investors with significant losses often choose to serve in this leadership role to oversee the vigorous prosecution of the case.

Cohen Milstein’s Record of Results
Cohen Milstein is one of the country’s most highly regarded plaintiffs’ securities firms in the U.S. Annually, the firm and the securities litigation practice recognized by The Legal 500, Law360, Chambers USA, and The National Law Journal as a leader in high-impact securities class action. The firm recently served as co-lead counsel in In re Wells Fargo Securities Litigation, securing a $1 billion settlement for defrauded investors.

CONTACT:
Molly Bowen, Esq.
Licensed in DC, Florida, and Ohio
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W., Fifth Floor
Washington, D.C. 20005
Phone: (888) 240-0775 or (202) 408-4600
Email: [email protected]
Website: www.cohenmilstein.com

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