Nanthealth: Class Action

NanthealthPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Nanthealth (NYSE:NH) in connection to alleged violations of securities laws by NH and certain of its officers. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Nanthealth between June 1, 2016 through March 6, 2017.

The class action complaint specifically alleges that during the period in question, NH and certain of its officers might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company’s CEO, Patrick Soon-Shiong, directed business to the company by way of a $12 million donation to the University of Iowa, whose contractual terms stipulating that the University would direct $10 million toward genetics analyses provided by the company; that as a result of this, the number of test orders the company reported to its investors was inflated in an artificial manner; that the contracts relating to this donation were in violation of federal tax law; and that as a consequence of all this, the company’s statements to the public were false and misleading during the relevant period.

According to the company’s website, NantHealth is “a next-generation, evidence-based, personalized healthcare company enabling improved patient outcomes and more effective treatment decisions for critical illnesses.” The description continues: “NantHealth‘s unique systems-based approach to personalized healthcare integrates novel diagnostics with large-scale, biometric and phenotypic data to track patient outcomes and deliver precision medicine. In addition, NantHealth’s adaptive learning system, CLINICS™, continuously improves decision-making and further optimizes our clinical pathways and decision algorithms over time.”

A class action lawsuit has already been filed in connection with Nanthealth. If you wish to serve as lead plaintiff in the NH lawsuit, you must move the Court no later than May 6, 2017. If you wish to join the litigation, please contact Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.