PR Newswire | Dec 21, 2020 07:56PM EST

12/21 18:56 CST

SHAREHOLDER ALERT: WeissLaw LLP Investigates NantKwest, Inc. NEW YORK, Dec. 21, 2020

NEW YORK, Dec. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of NantKwest, Inc. ("NantKwest" or the "Company") (NASDAQ: NK) in connection with the Company's proposed merger with ImmunityBio, a privately-held late stage immunotherapy company. Under the terms of the merger agreement, NantKwest will acquire ImmunityBio through a reverse merger pursuant to which, ImmunityBio shareholders will receive a fixed exchange ratio of 0.8190 shares of NantKwest for each share of ImmunityBio owned. Upon completion of the transaction, NantKwest shareholders will own just 28% of the combined company, with ImmunityBio shareholders owning the majority of the newly-combined entity.

If you own NantKwest shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/NK/

Or please contact:Joshua Rubin, Esq.WeissLaw LLP1500 Broadway, 16th FloorNew York, NY 10036(212) 682-3025(888) 593-4771 stockinfo@weisslawllp.com

WeissLaw is investigating whether NantKwest's board acted in the best interest of NantKwest's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of ImunityBio, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to NantKwest public shareholders.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP