The Shuman Law Firm Investigates NantHealth, Inc.
15 May 2018 - 2:29AM
Business Wire
The Shuman Law Firm announces that it is investigating potential
shareholder claims against certain officers and directors of
NantHealth, Inc. (“NantHealth” or the “Company”) (Nasdaq: NH).
NantHealth operates as an evidence-based personalized healthcare
company in the United States and internationally.
In 2014, the Company’s founder and CEO, Patrick Soon-Shiong,
made a $12 million donation to the University of Utah through
various charitable organizations he controlled. The Firm’s
investigation relates to events reported in a March 6, 2017,
article by STAT, a news organization focused on medical industry
reporting, which published an article alleging that pursuant to the
terms of Soon-Shiong’s donation to the University of Utah, the
university was effectively required to spend $10 million on
genetics analysis performed by NantHealth. This arrangement
allegedly enabled NantHealth to inflate by more than 50 percent the
number of test orders it reported to investors in 2016. Also, the
article quoted two tax experts who stated that the deal “appeared
to violate federal tax rules governing certain charitable
donations” and “amount[ed] to indirect self-dealing by Soon-Shiong
and his foundations.” When this information became public,
NantHealth’s stock fell approximately 24%.
If you currently own NantHealth common stock and are interested
in discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll
free at (866) 569-4531 or email Mr. Shuman at kip@shumanlawfirm.com
or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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version on businesswire.com: https://www.businesswire.com/news/home/20180514006048/en/
The Shuman Law FirmKip B. Shuman, Esq.,
866-569-4531kip@shumanlawfirm.comorRusty E. Glenn, Esq.,
866-569-4531rusty@shumanlawfirm.comorFax:
303-536-7849www.shumanlawfirm.com
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