NantHealth Inc

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Case Summary
Company Name: NantHealth Inc
Stock Symbol : NASDAQ: NH
Class Period Start: 06/01/2016
Class Period End: 03/06/2017
Lead Plaintiff motion: 05/08/2017
Date Filed: 05/08/2017
Type of Case: Securities Class Action
Court: U.S. District Court for the Central District of California
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the May 2, 2017 lead plaintiff deadline in a class action lawsuit filed against NantHealth Inc (NASDAQ: NH) (“NantHealth” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased NantHealth Inc securities between June 1, 2016, and March 6, 2017, have until May 8, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased NantHealth Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that NantHealth founder Patrick Soon-Shiong donated funds through nonprofit organizations to the University of Utah for the purpose of funneling those funds back into NantHealth;  as such, Nanthealth and Soon-Shiong violated federal tax laws, exposing Nanthealth to possible civil and criminal liability; Nanthealth improperly recorded orders received from the University of Utah as GPS Cancer test orders; in turn, Nanthealth reported false and inflated GPS Cancer order figures for the third quarter of 2016; and  as a result, defendants’ statements regarding NantHealth’s outlook and expected financial performance were false and misleading and lack a reasonable basis when made.

On March 6, 2017, an article claimed that Patrick Soon-Shiong, had donated $12 million to the University of Utah from three different tax-exempt entities controlled by him under a contract that required the University to funnel much of that money into NantHealth. Furthermore, the article claimed that NantHealth misled investors in reporting its third-quarter earnings in November 2016.

Following this news, NASDAQ: NH fell from $7.17 per share on March 3, 2017 to a closing price of $5.50 on March 6, 2017.

If you were negatively impacted by your investment in NantHealth Inc securities between February 19, 2013 and March 1, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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