Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Billionaire Patrick Soon-Shiong Settles NantHealth Investor Suit

Sept. 27, 2022, 8:10 PM

Patrick Soon-Shiong, known as the “world’s richest doctor,” will pay about $1.6 million—most of it to attorneys—to resolve investor litigation in Delaware over claims he used charitable donations to disguise a scheme involving one of his companies, NantHealth Inc.

The settlement, docketed Monday, calls for a $400,000 payment to the company by Soon-Shiong, a South African transplant surgeon who owns the Los Angeles Times, the San Diego Tribune, and a minority stake in the NBA’s Lakers. Soon-Shiong is worth $8.6 billion, according to the Bloomberg Billionaires Index.

NantHealth, a health technology company, will also adopt oversight reforms, including changes to ...