MONDAY DEADLINE: Nano-X Imaging Ltd. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO, Dec 2, 2021 / PRNewswire / – Robbins Geller Rudman & Dowd LLP announces that Nano-X Imaging Ltd. (NASDAQ: NNOX) securities between June 17, 2021 and August 18, 2021, including (the “class period”) have up to this coming Monday 6 December 2021 Appointment as lead plaintiff in the McLaughlin v. Nano-X Imaging Ltd., No. 21-cv-05517 (EDNY). Started on October 5, 2021, the Nano-X class action lawsuit accuses Nano-X and some of its top executives of violating the Securities Exchange Act of 1934.
If you would like to stand as the lead plaintiff in the Nano-X class action, please provide your information by clicking here. You can also contact Attorney JC Sanchez of Robbins Geller by phone at 800 / 449-4900 or by email at [email protected]. Motions by the lead plaintiffs for the Nano-X class action must be submitted by no later than. be submitted to the court December 6, 2021.
CASE ALLEGATION: One June 17, 2021, Nano-X has filed a 510 (k) filing with the US Food and Drug Administration (the “FDA”) for its multi-source version of Nanox.ARC. A 510 (k) is a type of pre-application filing with the FDA to demonstrate that a product being marketed is just as safe and effective, essentially equivalent to a legally sold product. Following this filing, defendants announced the regulatory and commercial prospects of Nanox.ARC in various public statements and filings with the US Securities and Exchange Commission.
The Nano-X class action alleges that during the collection period, defendants made false and misleading statements and failed to disclose: (i) Nano-Xs 510 (k) filing for Nanox.ARC was defective; (ii) accordingly, it was unlikely that the FDA would approve the 510 (k) filing for Nanox.ARC in its current form; (iii) as a result, Nano-X had overstated the regulatory and commercial prospects of Nanox.ARC; and (iv) consequently, at all relevant times, Nano-X’s public statements were essentially false and misleading.
on August 19, 2021, Nano-X reported that Nano-X “received a request for additional information from the [FDA] regarding the company’s most recent 510 (k) filing of its multi-source device Nanox.ARC, “and that”[t]The filing file will be suspended pending a full response to the FDA’s list of deficiencies, “with”[t]The company’s answer. . . due within 180 days of the date of the request for additional information. “On the news, the price of Nano-X’s common stock fell nearly 10%, causing harm to investors.
LEAD ACTION: The Private Securities Litigation Reform Act of 1995 allows any investor who purchased Nano-X securities during the class action period to seek appointment as the lead plaintiff in the Nano-X class action. A lead plaintiff is usually the applicant with the greatest financial interest in the legal protection sought by the alleged class, which is also typical and appropriate for the alleged class. A lead plaintiff is acting on behalf of all other group members in directing the Nano-X class action. The lead plaintiff can choose a law firm of their choice to bring the Nano-X class action lawsuit. An investor’s ability to participate in a possible future recovery of the Nano-X class action lawsuit does not depend on whether they are the lead plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 offices across the country, Robbins Geller Rudman & Dowd LLP is the largest US law firm serving investors in securities class actions. Robbins Geller attorneys have accomplished many of the largest shareholder reclaims in history, including the largest stock class recovery reclaim of all time – $ 7.2 billion – with respect to Enron Corp. Sec. Lit. ISS Securities Class Action Services 2020 Top 50 report ranked Robbins Geller # 1 in recovery $ 1.6 billion for investors in the past year, more than double the amount recovered from all other securities plaintiffs. More information is available at http://www.rgrdlaw.com.
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Robbins Geller Rudman & Dowd LLP
655 W. Broadway, San Diego, CA 92101
JC Sanchez, 800-449-4900
SOURCE Robbins Geller Rudman & Dowd LLP