NEW YORK — The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of NantHealth, Inc. (NASDAQ:NH) who purchased shares (1) pursuant and/or traceable to the Company’s initial public offering on or about June 1, 2016; and/or (2) between June 1, 2016 and March 6, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose: (1) that Company founder Patrick Soon-Shiong had donated funds through nonprofit organizations to the University of Utah for the purpose of funneling those funds back into NantHealth; (2) that, as such, the Company and Soon-Shiong participated in the violation of federal tax laws—exposing the Company to possible civil and criminal liability; (3) that the Company improperly recorded orders received from the University of Utah as GPS Cancer test orders; and (4) that, as a result, the Company reported false and inflated GPS Cancer order figures for the third quarter of 2016.
Shareholders have until May 8, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/nanthealth-inc?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Joseph Klein, Esq. Empire State Building 350 Fifth Avenue 59th floor New York, NY 10118 Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com