BERWYN, Pa., March 7, 2017 /360WiseNews/ — RM LAW, P.C. is investigating potential claims against the board of directors of NantHealth, Inc. (“NantHealth” or the “Company”) (NASDAQ: NH). Our investigation concerns potential breach of fiduciary duty and securities claims.
On March 6, 2017, STAT, a news organization focused on medical industry reporting, published an article alleging that NantHealth founder, Patrick Soon-Shiong, had donated $12 million to the University of Utah from three different tax-exempt entities controlled by him under a contract that required the University to funnel most of that money into NantHealth. STAT alleges that the scheme allowed the Company to inflate the number of test orders it reported to investors.
On this news, shares of NantHealth fell 23% to close at 5.50 per share on March 6, 2017. Keep Reading