Johnson Fistel, Announces Investigations of NantKwest, Inc., K12 Inc., and CytRx Corporation; Long-Term Investors Encouraged to Contact Firm
SAN DIEGO, Oct. 4, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against NantKwest, Inc., K12 Inc., and CytRx Corporation as detailed below:
NantKwest, Inc. (NK)
Shareholder Rights Law Firm Johnson Fistel, LLP today announced that it is investigating whether certain officers or directors of NantKwest, Inc. (NASDAQ: NK) ("NantKwest") violated federal or state laws.
On September 20, 2017, a federal court denied a motion to dismiss a securities fraud class action filed against the company and certain executives.
The Complaint alleges that during the Class Period defendants made misrepresentations and omissions related to a secret warrant modification that elevated Defendant Patrick Soon-Shiong's compensation higher than any other executive in the United States, and a secret related-party lease arrangement NantKwest and Soon-Shiong made prior to NantKwest's initial public offering, causing NantKwest to incur millions of dollars of unreported liability.
If you are a long-term shareholder of NantKwest and continuously held shares since July 2015, you may have standing to hold NantKwest harmless from the damage the officers and directors may have caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a long-term NantKwest shareholder continuously holding shares since July 2015, and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
K12 Inc. (LRN)
Shareholder Rights Law Firm Johnson Fistel, LLP today announced that it is investigating whether certain officers or directors of K12 Inc. (NYSE: LRN) ("K12") violated federal or state laws.
On August 30, 2017, a federal court denied in part a motion to dismiss a securities fraud class action filed against the company and certain executives.
According to the lawsuit, throughout the Class Period defendants issued false and misleading statements to investors and failed to disclose that: (1) K12 was publishing misleading advertisements about students' academic progress, parent satisfaction, their graduates' eligibility for University of California and California State University admission, class sizes, the individualized and flexible nature of K12's instruction, hidden costs, and the quality of the materials provided to students; (2) K12 submitted inflated student attendance numbers to the California Department of Education in order to collect additional funding; (3) K12 was open to potential civil and criminal liability due to these practices; (4) K12 would likely be forced to end these practices, which would have a negative impact on K12's operations and prospects, and/or that K12 was, in fact, ending the practices; and (5) as a result, K12's public statements were materially false and misleading at all relevant times. When the factual details entered the market, the lawsuit claims that investors suffered damages.
If you are a long-term shareholder of K12 and continuously held shares before October 10, 2013, you may have standing to hold K12 harmless from the damage the officers and directors may have caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a long-term K12 shareholder continuously holding shares before October 10, 2013, and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
CytRx Corporation (CYTR)
Johnson Fistel, LLP is investigating potential violations of the federal securities laws by CytRx Corporation (NASDAQ: CYTR) ("CytRx") and certain of its officers.
On August 14, 2017, a federal court denied in part a motion to dismiss a securities fraud class action filed against the company and certain executives.
The complaint alleges that defendants made materially misleading statements and omissions to investors regarding CytRx's pivotal Phase 3 clinical trial of aldoxorubicin as a second-line treatment for STS. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you are a long-term shareholder of CytRx and continuously held shares before September 12, 2014, you may have standing to hold CytRx harmless from the damage the officers and directors may have caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.
If you are a long-term CytRx shareholder continuously holding shares before September 12, 2014, and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
SOURCE Johnson Fistel, LLP
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