BENSALEM, Pa.–(BUSINESS WIRE)–$NNOX #classaction–0Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX) securities between August 21, 2020 and September 15, 2020, inclusive (the “Class Period”). Nano-X investors have until November 16, 2020 to file a lead plaintiff motion.
Investors suffering losses on their Nano-X investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On September 15, 2020, Citron Research published a report alleging, among other things, that Nano-X “is nothing more than a science project with a simple rendering, minimal R&D, fake customers, no FDA approval, and fraudulent claims that are beyond the realm of possibility.”
On this news, the Company’s share price fell $11.21, or nearly 23%, to close at $38.00 per share on September 15, 2020, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Nano-X’s commercial agreements and its customers were fabricated; (2) Nano-X’s statements regarding its novel Nanox System were misleading as the Company never provided data comparing its images with images from competitors machines; (3) Nano-X’s submission to the U.S. Food and Drug Administration (FDA) admitted the Nanox System was not original; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased Nano-X securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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