If You Bought NantHealth, Inc., Common Stock Between June 1, 2016, And May 1, 2017, You Could Benefit From A Class Action Settlement
SEATTLE, March 13, 2020 /PRNewswire/ -- A settlement has been proposed in a class action lawsuit about the price of NantHealth stock. Under the settlement, NantHealth will pay $16.5 million to resolve claims by investors who bought NantHealth common stock between June 1, 2016, and May 1, 2017. If you qualify, you may send in a claim form to request a payment, or you can exclude yourself from the settlement, or object to it.
The United States District Court for the Central District of California authorized this notice. Before any money is paid, the Court will have a hearing to decide whether to approve the settlement.
Who Is In The Settlement?
You are a Class Member and could get benefits if you bought NantHealth stock between June 1, 2016, and May 1, 2017. You are a Class Member only if you bought shares of NantHealth stock individually, not simply through a mutual fund. Contact your broker to see if you have or held NantHealth stock. Certain people, such as NantHealth officers and directors and their families, are not Class Members. You can get more information, by visiting the website below or calling 1-844-975-1779.
What Is The Case About?
The lawsuit claims that NantHealth and some of its officers and directors misled investors about demand for its services in the company's registration statement, IPO prospectus, and other public statements. NantHealth and its officers and directors deny they did anything wrong. The Court did not decide which side was right. But both sides agreed to the settlement to resolve the case and get benefits to investors. The two sides disagree on how much money could have been won if the investors had won at a trial.
What Does The Settlement Provide?
NantHealth will pay $16.5 million to create a settlement fund to resolve claims by all Class Members. Those Class Members who send in valid claim forms and who are entitled to payment under the Plan of Allocation detailed in the long-form notice available at the website below will receive payment. Your payment will depend on the number of valid claim forms that Class Members send in, how many shares of NantHealth stock you bought, and when you bought and sold them. The settlement agreement, available at the website below, describes all of the details about the proposed settlement. If every eligible Class Member sends in a valid claim form, the average payment will be $0.69 per share.
The settlement fund will also pay attorneys' fees (up to $4.125 million), and cost reimbursements (up to $375,000), for the Court-appointed lawyers for investors (Gibbs Law Group LLP, of Oakland, CA, and Kehoe Law Firm PC, of Philadelphia, PA), and a compensatory award (up to $25,000) to the Class Representative. These amounts, and the costs to administer the settlement, together equal to about $0.28 per share. If these requests are granted, and after settlement administration expenses are paid, an estimated $11.725 million will remain to be paid to Class Members.
How Do You Ask For Payment?
A notice package with the detailed notice and claim form contains everything you need. Just call or visit the website below to get one. To qualify for a payment, you must send in a claim form or submit it online by May 22, 2020.
What Are Your Other Options?
If you don't want to be legally bound by the settlement, you must exclude yourself by May 22, 2020, or you won't be able to sue, or continue to sue, NantHealth or the other Released Parties covered by the settlement about the legal claims in this case. If you exclude yourself, you can't get money from this settlement. If you stay in the settlement, you may object to it by May 22, 2020. The detailed notice explains how to exclude yourself or object.
The Court will hold a hearing in this case (Deora v. NantHealth, Inc., No. 2:17-cv-01825-TJH-MRW) on June 15, 2020 at 10:00 a.m. to consider whether to approve the settlement and the attorneys' fee request by the lawyers representing investors. You may ask to appear at the hearing, but you don't have to. For more information, visit www.NantHealthSecuritiesLitigation.com, call 1-844-975-1779, or write to the Settlement Administrator, NantHealth, Inc. Securities Litigation, c/o JND Legal Administration, PO Box 91125, Seattle, WA 98111.
PARA UNA NOTIFICACIÓN EN ESPAŃOL, LLAMAR O VISITAR NUESTRO WEBSITE
SOURCE JND Legal Administration
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