Lead Plaintiff Deadline is May 23, 2016

NEW YORK, April 01, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a shareholder class action lawsuit has been filed in the United States District Court for the Central District of California against NantKwest, Inc. (NASDAQ:NK) ("NantKwest" or the "Company") on behalf of purchasers of the Company's securities between September 10, 2015 and March 10, 2016, inclusive (the "Class Period").

Shareholders who have incurred losses in NantKwest, Inc. securities are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

If you purchased shares of NantKwest, Inc., you may, no later than May 23, 2016, request that the Court appoint you lead plaintiff of the proposed class.

The filed complaint alleges that NantKwest and certain of its executive officers made a series of false and misleading statements and failed to disclose material adverse facts about the Company's business and operations to investors during the Class Period.  Specifically, the defendants are alleged to have failed to disclose, among other things, that: (i) NantKwest's financial statements contained errors related to stock-based awards made to certain senior executive officers; (ii) NantKwest's financial statements contained errors related to build-to-suit  lease accounting related to one of the Company's facilities; and (iii) the Company lacked effective internal financial controls.

On January 25, 2016, NantKwest announced the resignation of its Chief Financial Officer ("CFO"), who had just joined the Company in November 2015. On this news, shares of NantKwest's common stock declined to close at $11.99 per share on January 26, 2016.

Then on March 11, 2016, NantKwest disclosed to investors that its previously issued financial statements for the quarters ended June 30, 2015 and September 30, 2015 should no longer be relied upon and would need to be restated.  On this additional news, shares of NantKwest's common stock declined an additional 3.3%, to close on March 11, 2016 at $8.17 per share.  The closing price of the Company's stock on March 31, 2016 was over 67% lower than the value of NantKwest's Initial Public Offering (“IPO”) at $25.00 per share on July 27, 2015.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.  All e-mail correspondence should make reference to the “NantKwest investigation.”

Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP 
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774