Glancy
Prongay & Murray LLP (“GPM”) announces that a class action
lawsuit has been filed on behalf of investors who purchased NantKwest,
Inc. (“NantKwest” or the “Company”) (NASDAQ: NK)
securities between September 10, 2015 and March 10, 2016,
inclusive (the “Class Period”). NantKwest investors have until May
23, 2016 to file a lead plaintiff motion.
Investors who have suffered losses on their NantKwest investments are
encouraged to contact Lesley Portnoy of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
NantKwest is a biotechnology company that develops immunotherapeutic
agents for various clinical conditions.
The Complaint alleges that throughout the Class Period, NantKwest made
materially false and misleading statements regarding the Company's
business, operational and compliance policies. Specifically, NantKwest
made false and/or misleading statements and/or failed to disclose that:
(i) NantKwest's financial statements contained errors related to
stock-based awards to the Company's Chief Executive Officer and
Executive Chairman defendant Patrick Soon-Shiong ("Soon-Shiong"); (ii)
NantKwest's financial statements contained errors related to
build-to-suit lease accounting related to one of the Company's research
and development and good manufacturing practices ("GMP") facilities;
(iii) the Company lacked effective internal financial controls; and (iv)
as a result of the foregoing, NantKwest's public statements were
materially false and misleading at all relevant times.
GPM represents institutional and retail investors in securities class
actions throughout the country, and has recovered millions of dollars on
behalf of investors.
If you purchased shares of NantKwest during the Class Period you may
move the Court no later than May 23, 2016 to ask the Court
to appoint you as lead plaintiff if you meet certain legal requirements.
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 Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by
email to shareholders@glancylaw.com,
or visit our website at http://glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160418006769/en/
Copyright Business Wire 2016