SAN FRANCISCO, CA / ACCESSWIRE / November 15, 2020 / Hagens Berman calls on the investors of Nano-X Imaging Ltd. (NASDAQ: NNOX) 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.
Classes: August 21, 2020 – September 15, 2020
Lead plaintiff deadline: November 16, 2020
Contact an attorney now: NNOX@hbsslaw.com
Class action lawsuit against securities of Nano-X Imaging (NNOX):
The complaint alleges that throughout the teaching period, the defendants kept silent 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 “taking the most obvious stock action we have 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 stating that Nano-X was “a much bigger piece of junk than Nikola ever was,” based on interviews with radiologists and alleged dealers. Muddy Waters said the Nano-X ARC device “appears to be 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. “
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 would like to assist with the company’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblower: Individuals with non-public 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 NNOX@hbsslaw.com.
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About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities across the country and eighty attorneys. The firm represents investors, whistleblowers, employees and consumers in complex legal disputes. More information about the company and its achievements can be found at hbsslaw.com. For the latest news, visit our newsroom or follow us on Twitter @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE: Hagens Berman Sobol Shapiro LLP
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