STEVENSON, Md. -- (Business Wire)
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Central District of California
on behalf of purchasers of NantHealth, Inc. (Nasdaq: NH) (“NantHealth”
or the “Company”) securities pursuant or traceable to the Company’s
initial public offering on June 1, 2016 (the “IPO”) or between June 1,
2016 and March 6, 2017, inclusive (the “Class Period”). Investors who
wish to become proactively involved in the litigation have until May 8,
2017 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must
apply to be appointed lead plaintiff and be selected by the Court. The
lead plaintiff will direct the litigation and participate in important
decisions including whether to accept a settlement for the class in the
action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in NantHealth securities
during the Class Period. Members of the class will be represented by the
lead plaintiff and counsel chosen by the lead plaintiff. No class has
yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 and the Securities Act of 1933 by virtue of the
defendants’ failure to disclose in connection with the Company’s initial
public offering on June 1, 2016 and during the Class Period that the
Chief Executive Officer (“CEO”) had donated funds through nonprofit
organizations to the University of Utah for the purpose of funneling
those funds back into NantHealth, in the violation of federal tax laws,
that the Company improperly recorded orders received from the University
of Utah as GPS Cancer test orders, and the Company reported false and
inflated GPS Cancer order figures for the third quarter of 2016.
According to the complaint, following a March 6, 2017 article alleging
NantHealth’s Chief Executive Officer’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, the value of NantHealth shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in
NantHealth securities purchased on or after June 1, 2016 and held
through the revelation of negative information during and/or at the end
of the Class Period and would like to learn more about this lawsuit and
your ability to participate as a lead plaintiff, without cost or
obligation to you, please visit our website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com
or by telephone at (410) 415-6616. Brower Pivenalso encourages
anyone with information regarding the Company’s conduct during the
period in question to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170414005274/en/
Contacts:
Brower Piven, A Professional Corporation
Charles J. Piven,
410-415-6616
1925 Old Valley Road
Stevenson, Maryland 21153
hoffman@browerpiven.com
Source: Brower Piven, A Professional Corporation
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