San Francisco, Calif .– (Newsfile Corp. – October 21, 2020) – Hagens Berman calls on Nano-X Imaging Ltd. investors (NASDAQ: NNOX) to contact the company now. A securities fraud class lawsuit has been filed and certain investors may have valuable claims.
Classes: August 21, 2020 – September 15, 2020
Lead plaintiff deadline: November 16, 2020
Contact an attorney now: [email protected]
Class action lawsuit against Nano-X Imaging (NNOX) securities:
The complaint alleges that the defendants kept silent throughout the classroom that Nano-X: (1) established trade agreements and customers; (2) Statements regarding his novel Nanox system were misleading; and (3) Nano-X's filing with the FDA admitted that the Nanox system was not original.
Investors allegedly began learning the truth on September 15, 2020 when Citron Research released a report accusing Nano-X of "conducting the most obvious stock promotion we've seen in years". Challenging the new innovative technology claimed by Nano-X, Citron stated, "We haven't even seen evidence of the product and only seen a model drawing of what this machine is supposed to look like." Citron also claimed that Nano-X's trade agreements "only appear to be bogus customers".
After this report, the price of the Nano-X share fell significantly.
On September 17, 2020, Empire Financial Research released a report stating that Nano-X looked like "Theranos 2.0" and that "this stock is worthless".
Finally, on September 22, 2020, Muddy Waters released a report concluding that Nano-X is "a much bigger piece of junk than Nikola ever was," based on interviews with radiologists and alleged dealers. Muddy Waters stated that Nano-X's ARC device "appears little more than a futuristic movie prop" and "(i) in fact, an Israeli company that designed a pickup truck used in the Jurassic World film claims for its design Recognition."
The story goes on
"We're focusing on investor losses and proving that Nano-X misrepresented the status of its X-ray source and trade agreements," said Reed Kathrein, the Hagens Berman partner who led the investigation.
If you're a Nano-X investor or want to assist with the company's investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Individuals with nonpublic information about Nano-X should review their options to help with the investigation or use the SEC whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. For more information, call Reed Kathrein at 844-916-0895 or send an email to [email protected]
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The source version of this press release can be found at https://www.newsfilecorp.com/release/66580