Glancy Prongay & Murray LLP Files Securities Class Action Lawsuit Against NantKwest, Inc.

LOS ANGELES--()--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of a class (the “Class”) of individuals who purchased NantKwest, Inc. (“NantKwest” or the “Company”) (NASDAQ: NK) securities between July 28, 2015 and March 11, 2016, inclusive (the “Class Period”).

If you are a member of the Class described above, you may move the Court no later than May 23, 2016 to serve as lead plaintiff. Please contact Casey Sadler at 888-773-9224 or 310-201-9150, or at shareholders@glancylaw.com to discuss this matter.

NantKwest is a clinical-stage immunotherapy company focused on using “natural killer” cells to treat cancer, and infectious and inflammatory diseases. Natural killer, or NK, cells purportedly seek and destroy abnormal cells, such as cancer or virally-infected cells, without prior exposure or activation by other support molecules required to activate adaptive immune cells such as T-cells.

Throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was improperly accounting for stock-based awards in violation of Generally Accepted Accounting Principles (“GAAP”); (2) that the Company was conducting improper build-to-suit lease accounting in violation of GAAP; (3) that, as such, NantKwest issued financial statements in violation of GAAP; (4) that the Company lacked adequate internal controls over accounting and financial reporting; and (5) that, as a result of the foregoing, the Company’s financial statements, as well as Defendants’ statements about NantKwest’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Casey Sadler, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com

Release Summary

Glancy Prongay & Murray LLP Files Securities Class Action Lawsuit Against NantKwest, Inc.

Contacts

Glancy Prongay & Murray LLP, Los Angeles
Casey Sadler, 310-201-9150 or 888-773-9224
shareholders@glancylaw.com
www.glancylaw.com