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Shareholder Class Action Filed Against NantKwest, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of NantKwest, Inc. (NASDAQ:  NK) (“NantKwest”) between September 10, 2015 and March 10, 2016, inclusive (the “Class Period”).

NantKwest Corporation investors may receive additional information about the case by clicking the link "Join this Class Action" above.          

   

According to the complaint, NantKwest is a biotechnology company which develops  immunotherapeutic  agents  for various clinical conditions.  The Company also holds right to commercialize  a range of  genetically  modified  derivatives that  kills  cancer  and  virally infected cells.

The Complaint  alleges  that  throughout the  Class  Period,  defendants  made materially false and misleading  statements regarding the Company’s  business, operational and  compliance  policies.  Specifically,  defendants  made  false and/or misleading statements and/or failed  to disclose that: (i)  NantKwest’s financial statements contained  errors related  to stock-based  awards to  the Company’s Chief  Executive Officer  and Executive  Chairman defendant  Patrick Soon-Shiong (“Soon-Shiong”); (ii)  NantKwest’s financial statements  contained errors related  to  build-to-suit  lease  accounting related  to  one  of  the Company’s research and  development and good  manufacturing practices  (“GMP”) facilities; (iii) the  Company lacked effective  internal financial  controls; and (iv) as  a result  of the  foregoing, NantKwest’s  public statements  were materially false and misleading at all relevant times. 

The Class Period begins on September 10, 2015, when NantKwest filed a quarterly report on Form 10-Q with the SEC announcing the Company’s financial and operating results for the quarter ended June 30, 2015 (the “Q2 2015 10-Q”).

On March 11, 2016,  NantKwest announced that  the Company’s interim  financial statements for the quarters ended June 30, 2015 and September 30, 2015  should no longer be relied  upon due, in  part, to the  combined effect of  financial statement errors  primarily  attributable  to certain  stock-based  awards  to defendant Soon-Shiong and build-to-suit lease accounting related to one of its research and development and GMP facilities.

Following this new on March 11, 2016, NantKwest stock fell 3.31%, to close at $8.17.

If you are a member of the class described above, you may no later than May 23, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.  

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  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 toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please list your purchase and sale transaction(s) in the NantKwest, Inc. (NASDAQ:  NK) (“NantKwest”) between September 10, 2015 and March 10, 2016, inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of NantKwest, Inc. prior to the class period?
Are you a current or former employee of NantKwest, Inc. ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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