BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an expanded class period in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired NantKwest, Inc. (“NantKwest” or the “Company”) (NASDAQ: NK) securities between July 28, 2015 and March 11, 2016, inclusive (the “Class Period”). Investors who have suffered losses on their investment in NantKwest securities have until May 23, 2016 to file a lead plaintiff motion.
Investors who suffered losses on their NantKwest investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
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 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.