Mergers & Antitrust Law News

Soon-Shiong Remains Last Defendant in GPS Cancer IPO Suit

Jan. 14, 2020, 11:07 PM

Billionaire medical entrepreneur Patrick Soon-Shiong must face claims that his cancer genomics company NantHealth Inc. secretly attached self-dealing terms to a charitable gift in a bid to inflate its stock before going public, a Delaware judge ruled Tuesday.

But the company’s other directors and top executives are off the hook for procedural reasons, the judge said.

Soon-Shiong, officially “the world’s richest doctor,” is a South African surgeon worth $7 billion who owns the Los Angeles Times and a piece of the Los Angeles Lakers. He made his fortune inventing the breakthrough cancer drug Abraxane and founding multiple health care companies....

To read the full article log in. To learn more about a subscription click here.