New Federal Securities Cases
Kirby McInerney LLP announced today that a class action lawsuit has been filed in the United States District Court, Central District of California against NantHealth, Inc. ("NantHealth") (NASDAQ: NH) on behalf of investors that acquired NantHealth securities (1) pursuant and/or traceable to the Registration Statement and Prospectus, issued in connection with NantHealth's initial public offering on or about June 2, 2016; and/or (2) on the open market from June 2, 2016 through March 3, 2017 (the "Class Period"), seeking to recover damages caused by defendants' violations of the Securities Act of 1933 and the Securities Exchange Act of 1934.
NantHealth is a transformational healthcare cloud-based IT company.
On March 6, 2017, the STAT news organization published an article alleging NantHealth's CEO's donation to the University of Utah required the university to spend $10 million on work performed by NantHealth, an arrangement which enabled NantHealth to inflate by more than 50 percent the number of test orders it reported to investors in 2016. In addition, the article quoted two tax experts stating that the deal appeared to violate federal tax rules governing charitable donations.
On this news, NantHealth's share price fell from $7.17 to close at $5.50 per share (a decline of $1.67).
If you acquired NantHealth securities during the Class Period and are interested in learning more about this matter and any rights you might have with respect to these claims, please contact Wendy Li at the Contact Form link below, or by telephone at (212) 371-6600. Please bear in mind that some of these rights may be time-sensitive.
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