A single investor is suing the biotech mogul and NantHealth, alleging violation of federal securities laws. Other law firms have also filed class action suits against the company.

NantHealth's Patrick Soon-Shiong sued for alleged securities violations

By Jessica Davis
11:51 AM
NantHealth Soon-Shiong

Biotech mogul and NantHealth founder Patrick Soon-Shiong and NantHealth are being sued in federal court by one investor who alleges Soon-Shiong violated federal securities laws, according to Stat.

A single investor filed the lawsuit, but the complaint said the legal team may ask a judge to expand it to a class action suit if additional investors come forward.

The lawsuit appears to be in response to this week’s Stat report that revealed how Soon-Shiong used a $12 million donation to the University of Utah to direct about $10 million back to NantHealth.

The stock plummeted 35 percent as a result. At the time of publication, the stock is selling at $4.52 a share.

Two other law firms have also filed class action lawsuits against Soon-Shiong and NantHealth.

Several other law firms have also filed class action lawsuits against NantHealth this week, alleging false and/or misleading statements in the run-up to its IPO.

Twitter: @JessieFDavis
Email the writer: jessica.davis@himssmedia.com

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