BENSALEM, Pa., Oct. 6, 2020 /PRNewswire/ — Law Offices of Howard G. Smith reminds investors of the upcoming November 16, 2020deadline to file a lead plaintiff motion in the case 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”).
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 [email protected]
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 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 during the Class Period, you may move the Court no later than November 16, 2020 ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
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