NEW ORLEANS, LA--(Marketwired - March 17, 2017) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., reminds investors that they have until May 8, 2017 to file lead plaintiff applications in a securities class action lawsuit against NantHealth, Inc. (NH), if they purchased the Company's 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"). The action is pending in United States District Court for the Central District of California.
What You May Do
If you purchased securities of NantHealth and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 8, 2017.
About the Lawsuit
NantHealth and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 6, 2017, an article was published 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. The article also quoted two tax experts stating that the deal appeared to violate federal tax rules governing charitable donations.
On this news, the price of NantHealth's shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.