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SAN FRANCISCO, March 24, 2017 -- Hagens Berman Sobol Shapiro LLP reminds investors in NantHealth, Inc. (NASDAQ:NH) of the pending IPO-related securities class action and the May 6, 2017 Lead Plaintiff deadline.
If you purchased or otherwise acquired securities of NH (1) pursuant and/or traceable to the Company’s registration statement and prospectus issued in connection with the Company’s initial public offering on or about June 1, 2016, or (2) between June 1, 2016 and March 6, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/NH
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On March 6, 2017, STATnews published a report entitled “How the world’s richest doctor gave away millions – then steered the cash back to his company.” The report stated that the NantHealth’s founder (Patrick Soon-Shiong (“Dr. Soon”)) made a $12 million gift to the University of Utah that required the University to spend $10 million for NantHealth’s genetic sequencing work.
The report also stated: “[T]he deal made it possible for [NantHealth] to inflate, by more than 50 percent, the number of test orders it reported to investors late last year while updating them on interest in a flagship product, a diagnostic tool known as GPS Cancer. Soon-Shiong’s team counted genetic sequencing ordered by the University of Utah in those order numbers – even though the work for the university did not have anything to do with diagnosing or recommending treatments for cancer patients.”
This news drove the price of NantHealth shares down approximately 23% to close at $5.50 per share on March 6, 2017.
“We’re focused on management’s earlier tally given to investors in comparison to the recent news that, if true, would appear to contradict those statements,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding NantHealth should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
