NEW YORK, March 6, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of NantHealth, Inc. ("NantHealth" or the "Company") (NASDAQ: NH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether NantHealth and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 6, 2017, STAT, a news organization focused on medical industry reporting, published an article alleging that NantHealth's founder, Patrick Soon-Shiong, had donated $12 million to the University of Utah from three different tax-exempt entities controlled by Soon-Shiong under a contract that required the university to funnel most of those funds into NantHealth. STAT alleges that the scheme allowed the Company to inflate the number of test orders it reported to investors.
On this news, NantHealth's share price has fallen as much as $1.47, or 20.5%, during intraday trading on March 6, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP