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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of April 26, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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January 9, 2019 - The court preliminarily approved the settlement.
October 31, 2018 - A stipulation of settlement was filed by the parties.
August 24, 2018 - A fourth amended consolidated complaint was filed.
September 20, 2017 - The court denied defendants' motion to dismiss.
July 31, 2017 - A motion to dismiss the third amended consolidated complaint was filed.
July 10, 2017 - A third amended consolidated complaint was filed.
June 5, 2017 - A second amended consolidated complaint was filed.
May 16, 2017 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.
October 5, 2016 - A motion to dismiss the consolidated complaint was filed.
August 4, 2016 - An amended consolidated complaint was filed.
March 22, 2016 - An investor in shares of Nantkwest Inc (NASDAQ: NK) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Nantkwest Inc in connection with certain allegedly false and misleading statements made between September 10, 2015 and March 10, 2016.
According to the complaint the plaintiff alleges on behalf of purchasers of Nantkwest Inc (NASDAQ: NK) common shares between September 10, 2015 and March 10, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 10, 2015 and March 10, 2016 defendants issued false and misleading statements to investors and/or failed to disclose that Nantkwest Inc’s financial statements contained errors related to stock-based awards to Nantkwest Inc’s Chief Executive Officer and Executive Chairman defendant Patrick Soon-Shiong, that Nantkwest Inc’s financial statements contained errors related to build-to-suit lease accounting related to one of Nantkwest Inc’s research and development and good manufacturing practices facilities, that Nantkwest Inc lacked effective internal financial controls, and that as a result Nantkwest Inc’s public statements were materially false and misleading at all relevant times.
On July 28, 2015, Nantkwest Inc's stock traded as high as $38.48, the same day the Nantkwest Inc sold over 8 million shares of stock in its initial public stock offering (IPO), raising $207.2 million in new capital.
On March 11, 2016, Nantkwest Inc announced that the Audit Committee of the Board of Directors of Nantkwest Inc concluded, after discussion with management and Mayer Hoffman McCann P.C., Nantkwest Inc’s independent registered public accounting firm, that the interim financial statements contained in Nantkwest Inc’s quarterly reports on Form 10-Q for the quarters ended June 30, 2015 and September 30, 2015 should no longer be relied upon due to the combined effect of financial statement errors primarily attributable to certain stock-based awards to Nantkwest Inc’s Chief Executive Officer and Executive Chairman and build-to-suit lease accounting related to one of its research and development and Good Manufacturing Practices facilities.
On March 14, 2016, NASDAQ: NK shares closed at $8.37 per share.