NEW YORK, NY / ACCESSWIRE / October 28, 2020 / Bernstein Liebhard, a nationally acclaimed investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action that has been filed on behalf of investors that purchased or acquired the securities of Nano-X Imaging Ltd. ("Nano-X" or the "Company") (NASDAQ:NNOX) between August 21, 2020 and September 15, 2020 (the "Class Period"). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
If you purchased NNOX securities, and/or would like to discuss your legal rights and options please visit Nano-X Shareholder Lawsuit or contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
According to the Complaint, defendants made false and/or misleading statements and/or failed to disclose 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, defendants' public statements were materially false and/or misleading at all relevant times.
On September 15, 2020, Citron Research ("Citron") published a report entitled, "Nano-X Imaging (NNOX) A Complete Farce on the Market - Theranos 2.0", which summarized Nano-X as "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, Nano-X's stock price fell $12.41 per share, or more than 25%, over the next two trading days to close at $36.80 per share on September 16, 2020, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than November 16, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn't require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Nano-X securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/nanoximagingltd-nnox-shareholder-class-action-lawsuit-stock-fraud-308/apply contact Matthew E. Guarnero toll free at (877) 779-1414 or [email protected].
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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SOURCE: Bernstein Liebhard LLP