Sunil Sudunagunta v. NantKwest, Inc., et al
Nantkwest Securities Litigation
16-cv-1947-MWF (JEMx)

Frequently Asked Questions

 

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  • The Court directed that the Notice be mailed to you because you or someone in your family or an investment account for which you serve as a custodian may have purchased or otherwise acquired Nantkwest Inc., common stock in or traceable to Nantkwest’s July 28, 2015 Initial Public Offering (“IPO”).  The Court has directed us to disseminate the notices because, as a potential Class Member, you have a right to know about your options before the Court rules on the approved Settlement. Additionally, you have the right to understand how this class action lawsuit may generally affect your legal rights. If the Court approves the Settlement and the Plan of Allocation (or some other plan of allocation), the Settlement Administrator selected by Plaintiffs and approved by the Court will make payments pursuant to the Settlement after any objections and appeals are resolved.

    One of the purposes of the Notice is to inform you of the approved $12 million cash Settlement of the Action. Your recovery will depend on the number of shares of NantKwest common stock you, and other Class Members who file claims, purchased and sold and the prices at which you, and the other Class Members who file claims, purchased and sold those shares. Plaintiffs estimate that all 9,531,200 shares issued in NantKwest’s IPO may have been damaged. If so, the estimated average recovery will have an economic value of approximately $1.259 per share, before deduction of Court approved fees and expenses and costs of notice and claims administration. The actual amount disbursed to members of the Class who participate in the Settlement may be more or less than this figure.

    The issuance of the Notice is not an expression of any opinion by the Court concerning the merits of any claim in the Action, and the Court still has to decide whether to approve the Settlement. If the Court approves the Settlement and a plan of allocation, then payments to Authorized Claimants will be made after any appeals are resolved and after the completion of all claims processing. Please be patient, as this process can take some time.

  • The Action alleges that NantKwest, certain of its former officers and directors, and the underwriters for NantKwest’s IPO made material misrepresentations in violation of the Securities Act of 1933 in the Registration Statement for NantKwest’s July 28, 2015 IPO. Earlier complaints also alleged violations of the Securities Exchange Act of 1934, for statements made in the Registration Statement and thereafter.

  • If you are a member of the Class, you are subject to the Settlement, unless you timely request to be excluded. The Class consists of all purchased or otherwise acquired Nantkwest, Inc. common stock in or traceable to Nantkwest’s July 28, 2015 Initial Public Offering (“IPO”).

  • If there were no Settlement and Plaintiffs failed to establish any essential legal or factual element of their claims against Defendants, neither Plaintiffs nor the other members of the Class would recover anything from Defendants.  Also, if Defendants were successful in their motion to dismiss or proving any of their defenses, either at summary judgement, at trial or on appeal, the Class could recover substantially less than the amount provided in the Settlement, or nothing at all.

  • If you are a Class Member and do not wish to remain a Class Member, you may exclude yourself from the Class by following the instructions on page 6 of the Notice entitled, “Requesting Exclusion from the Class” The exclusion request must be postmarked or received by April 15, 2019.

    If you are a Class Member and you wish to object to the Settlement, the Plan of Allocation, or Class Counsel’s application for attorneys’ fees and reimbursement of Litigation Expenses, and if you do not exclude yourself from the Class, you may present your objections by following the instructions on page 7 of the Notice entitled “The Final Approval Hearing”. Objection to the settlement must be postmarked or received by April 15, 2019.

    Any Class Member who does not timely and validly request exclusion from the Class and who objects to the Settlement, the adequacy of the representation provided by Class Plaintiffs and Class Counsel, the approved Plan of Allocation of the Net Settlement Fund, the Final Order and Judgment contemplated by the Stipulation, the application for attorneys’ fees and reimbursement of expenses, and/or the application for the reimbursement of the reasonable costs and expenses of the Class Plaintiffs, or who otherwise wishes to be heard with respect to any of the foregoing, may appear in person or by attorney at the Final Approval Hearing, at his or her own expense, and present any evidence or argument that may be proper and relevant. However, no person shall be heard, and no papers, briefs, pleadings or other documents submitted by any such person shall be considered by the Court unless, postmarked or received by April 15, 2019. Instructions can be found on page 7 of the notice entitled “The Final Approval Hearing”.

  • If you are still not sure whether you are included, you can ask for free help by speaking to a claim representative or you can fill out and return the Proof of Claim and Release form to see if you qualify.

  • At this time, it is not possible to make any determination as to how much any individual Class Member may receive from the Settlement. Please call back at a later time for more information

  • To qualify for a payment, you must submit a Proof of Claim and Release form. The Settlement Administrator will process your claim and determine whether you are an Authorized Claimant.

    A Proof of Claim form can be submitted or downloaded at info@nantkwestsecuritieslitigation.com. Read the instructions carefully, fill out the form, include all the documents that the form requests, sign it, and mail it so that it is postmarked on or before April 26, 2019. The claim form may be mailed to:
     

    NantKwest Securities Litigation
    c/o JND Legal Administration
    P.O. Box 91230
    Seattle, WA 98111

  • The Court will hold Final Approval Hearing on April 29, 2019 at 10:00 a.m. to decide whether to approve the Settlement. If the Court approves the Settlement, there might be appeals afterwards. It is always uncertain whether these appeals can be resolved, and resolving them can take time, perhaps more than a year. It also takes time for all the Proofs of Claim to be processed. Please be patient.

  • For even more detailed information concerning the matters involved in this Action, see the Settlement Stipulation, the pleadings in the Action, the papers filed in support of the Settlement, and the orders entered by the Court. For a fee, all papers filed in this Action are also available at www.pacer.gov.

For More Information

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Mail

Nantkwest Securities Litigation
C/O JND Legal Administration
PO Box 91230
Seattle, WA 98111