SAN FRANCISCO, Nov 9, 2020 (GLOBE NEWSWIRE) – Hagens Berman calls for Nano-X Imaging Ltd. (NASDAQ:: NNOX) Investors to contact the company now. A securities fraud class action has been filed and NNOX investors may face sufficient losses to move on behalf of the lead plaintiff.
Nano-X imaging (NNOX) Class action lawsuit against securities::
The complaint alleges that the defendants concealed 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 reportedly began learning the truth on September 15, 2020 when Citron Research released a report accusing Nano-X of “taking the most obvious stock action 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 that found that Nano-X looked like “Theranos 2.0” and that “this stock is worthless.”
Finally, on September 22nd, 2020, Muddy Waters released a report stating that Nano-X “is a much bigger piece of junk than Nikola will ever be,” based on interviews with radiologists and alleged dealers. Muddy Waters stated that Nano-X’s ARC device was “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 credit for its design. “
“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 would like to assist with the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about Nano-X should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844– –916– –0895 or send an email to [email protected]
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Reed Kathrein, 844-916-0895