Case Background:
On March 3, 2017, the initial complaint in this securities class action was filed against NantHealth, Inc. (“NantHealth” or the “Company”), and certain of NantHealth’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit on behalf of all investors who purchased or acquired NantHealth common stock in or traceable to NantHealth’s June 1, 2016 Initial Public Offering (IPO), and all persons or entities who purchased NantHealth common stock between June 1, 2016, and May 1, 2017, both dates inclusive (the “Class Period”).
The complaint alleges throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) Defendant had donated funds through nonprofit organizations to the University of Utah for the purpose of funneling those funds back into NantHealth; (2) as such, the Company and Defendant participated in the violation of federal tax laws—exposing the Company to possible civil and criminal liability; (3) the Company improperly recorded orders received from the University of Utah as GPS Cancer test orders; (4) as a result, the Company reported false and inflated GPS Cancer order figures for the third quarter of 2016; and (5) as a result of the foregoing, the Company’s financial statements and defendants’ statements about NantHealth’s business, operations, and prospects, were materially false and misleading.
Current Status of Case:
On January 31, 2020, the Court issued an Order of Preliminary Approval of the Settlement. On September 10, 2020, the Court granted Final Approval of the Settlement. This action has concluded.
The deadline to file a claim is May 22, 2020. If you have any questions or need further information about this settlement, you may go to the following website, http://www.nanthealthsecuritieslitigation.com/, or you can contact the claims administrator, JND Legal Administration at 1-844-975-1779.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.