Nantkwest, Inc. Securities Litigation (2021)

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Lawsuit Overview

Defendant:NantKwest Inc. Common Stock
Date Filed:February 16th, 2021
Sector:Health Care
Industry:Biotechnology: Biological Products (No Diagnostic Substances)
Class Start Date:December 21st, 2020
Class End Date:February 16th, 2021

According to the Complaint, Nantkwest, Inc. is a clinical-stage immunotherapy company focused on harnessing the power of the innate immune system to treat cancer and infectious diseases.

On December 21, 2020, NantKwest and ImmunityBio, Inc. issued a joint press release announcing the Proposed Transaction, pursuant to which NantKwest will merge with ImmunityBio through NantKwest's wholly owned subsidiary Nectarine Merger Sub, Inc.

On February 2, 2021, NantKwest filed a Schedule 14A Definitive Proxy Statement with the SEC. The Complaint alleges the Proxy Statement, which recommends that NantKwest stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) the Company's and ImmunityBio's financial projections and the data and inputs underlying the financial valuation analyses that support the fairness opinion provided by one of the special committee of the Board's financial advisors; and (ii) the potential conflicts of interest faced by the Special Committee's advisors.

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First Identified Complaint

Annie Weiss, et al. v. Nantkwest, Inc., et al.

Date Filed:February 16th, 2021
Class Period Start:December 21st, 2020
Class Period End:February 16th, 2021
First Identified Complaint Filings
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