DENVER--(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 email@example.com or Mr. Glenn at firstname.lastname@example.org.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in stockholder litigation.