WASHINGTON, D.C., May  13, 2025  (GLOBE NEWSWIRE) -- Cohen Milstein Sellers & Toll PLLC issues the following update to investors in Zenas BioPharma, Inc. (NASDAQ: ZBIO) regarding the securities class action lawsuit filed in the U.S. District Court for the District of Massachusetts. Investors who purchased Zenas BioPharma shares pursuant and/or traceable to the company’s September 2024 initial public offering (IPO) have until June 16, 2025 to file a motion with the court to serve as lead plaintiff.

[Click here for information about joining the class action]

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].

What the Lawsuit Alleges
The complaint alleges that Zenas BioPharma and several of its IPO underwriters violated federal securities laws by misrepresenting the company’s financial condition. While the offering documents claimed Zenas BioPharma had sufficient cash and proceeds to operate for 24 months, a later SEC filing revealed a 12-month funding timeline. Following this disclosure, Zenas BioPharma’s share price declined nearly 49% from its IPO price, closing at $8.72 as of April 15, 2025.

About the Lead Plaintiff Role
The lead plaintiff is appointed by the court to act on behalf of all other class members. This investor helps oversee the litigation, selects legal counsel, and has the opportunity to shape case strategy. Investors with significant financial losses often seek this role to advocate on behalf of the full class.

Cohen Milstein’s Track Record
Cohen Milstein is a nationally respected law firm focused on complex investor litigation. The firm recently recovered $1 billion as co-lead counsel in In re Wells Fargo Securities Litigation and is routinely recognized by The Legal 500, Law360, and Chambers USA for excellence in private securities enforcement class actions.

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

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