SAN DIEGO, Oct. 4, 2017 /PRNewswire/ -- Shareholder Rights
Law Firm Johnson Fistel, LLP is investigating potential claims
against NantKwest, Inc., K12 Inc., and CytRx Corporation as
detailed below:
NantKwest, Inc. (NK)
Shareholder Rights Law Firm
Johnson Fistel, LLP today announced that it is investigating
whether certain officers or directors of NantKwest, Inc. (NASDAQ:
NK) ("NantKwest") violated federal or state laws.
On September 20, 2017, a federal
court denied a motion to dismiss a securities fraud class action
filed against the company and certain executives.
The Complaint alleges that during the Class Period defendants
made misrepresentations and omissions related to a secret warrant
modification that elevated Defendant Patrick Soon-Shiong's compensation higher than
any other executive in the United
States, and a secret related-party lease arrangement
NantKwest and Soon-Shiong made prior to NantKwest's initial public
offering, causing NantKwest to incur millions of dollars of
unreported liability.
If you are a long-term shareholder of NantKwest and
continuously held shares since July
2015, you may have standing to hold NantKwest harmless from
the damage the officers and directors may have caused by making
them personally responsible. You may also be able to assist in
reforming the Company's corporate governance to prevent future
wrongdoing.
If you are a long-term NantKwest shareholder continuously
holding shares since July 2015, and are interested in
learning more about your legal rights and remedies, please contact
Jim Baker (jimb@johnsonfistel.com)
at 619-814-4471. If you email, please include your phone
number.
K12 Inc. (LRN)
Shareholder Rights Law Firm Johnson
Fistel, LLP today announced that it is investigating whether
certain officers or directors of K12 Inc. (NYSE: LRN) ("K12")
violated federal or state laws.
On August 30, 2017, a federal
court denied in part a motion to dismiss a securities fraud class
action filed against the company and certain executives.
According to the lawsuit, throughout the Class Period defendants
issued false and misleading statements to investors and failed to
disclose that: (1) K12 was publishing misleading advertisements
about students' academic progress, parent satisfaction, their
graduates' eligibility for University of
California and California State
University admission, class sizes, the individualized and
flexible nature of K12's instruction, hidden costs, and the quality
of the materials provided to students; (2) K12 submitted inflated
student attendance numbers to the California Department of
Education in order to collect additional funding; (3) K12 was open
to potential civil and criminal liability due to these practices;
(4) K12 would likely be forced to end these practices, which would
have a negative impact on K12's operations and prospects, and/or
that K12 was, in fact, ending the practices; and (5) as a result,
K12's public statements were materially false and misleading at all
relevant times. When the factual details entered the market, the
lawsuit claims that investors suffered damages.
If you are a long-term shareholder of K12 and continuously
held shares before October 10, 2013,
you may have standing to hold K12 harmless from the damage the
officers and directors may have caused by making them personally
responsible. You may also be able to assist in reforming the
Company's corporate governance to prevent future wrongdoing.
If you are a long-term K12 shareholder continuously holding
shares before October 10,
2013, and are interested in learning more about your
legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at
619-814-4471. If you email, please include your phone number.
CytRx Corporation (CYTR)
Johnson Fistel, LLP is investigating potential
violations of the federal securities laws by CytRx Corporation
(NASDAQ: CYTR) ("CytRx") and certain of its officers.
On August 14, 2017, a federal
court denied in part a motion to dismiss a securities fraud class
action filed against the company and certain executives.
The complaint alleges that defendants made materially misleading
statements and omissions to investors regarding CytRx's pivotal
Phase 3 clinical trial of aldoxorubicin as a second-line treatment
for STS. When the true details entered the market, the lawsuit
claims that investors suffered damages.
If you are a long-term shareholder of CytRx and continuously
held shares before September 12,
2014, you may have standing to hold CytRx harmless from the
damage the officers and directors may have caused by making them
personally responsible. You may also be able to assist in
reforming the Company's corporate governance to prevent future
wrongdoing.
If you are a long-term CytRx shareholder continuously holding
shares before September 12,
2014, and are interested in learning more about your
legal rights and remedies, please contact Jim Baker (jimb@johnsonfistel.com) at
619-814-4471. If you email, please include your phone number.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP