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NantHealth Investigated by Block & Leviton After Revelation That Company's Founder May Have Inflated Order Figures For Flagship Product

Tuesday, March 7, 2017 Corporate News J E 4
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BOSTON, March 7, 2017 /PRNewswire/ -- Shares in NantHealth Inc. ("NantHealth" or the "Company") (NASDAQ: NH) plunged approximately 23% following an investigative report by Boston Globe Media's STAT. According to the report, the Company's founder, Patrick Soon-Shiong ("Dr. Soon") made a $12 million gift to the University of Utah with significant strings attached. Specifically, the gift's previously undisclosed terms required the University to spend $10 million with NantHealth for genetic sequencing work. According to STAT, NantHealth "counted the genetic tests done for the University of Utah in a tally it gave investors of orders it had received for its signature diagnostic tool, known as GPS Cancer. In fact, the tests for the University of Utah … did not have anything to do with the central function of GPS Cancer[.]"

Block & Leviton LLP is investigating the Company and Dr. Soon to determine whether investors may be able to bring claims to recover their losses under the federal securities laws.

If you purchased NantHealth stock between November 7, 2016 and March 6, 2017 and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Bradley Vettraino of Block & Leviton LLP at (617) 398-5600 or at brad@blockesq.com or visit www.blockesq.com/NantHealth. Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years.

This notice may constitute attorney advertising.       

Contact:          BLOCK & LEVITON LLPBradley Vettraino(617) 398-5600brad@blockesq.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/nanthealth-investigated-by-block--leviton-after-revelation-that-companys-founder-may-have-inflated-order-figures-for-flagship-product-300419061.html

SOURCE Block & Leviton LLP

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