Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX) securities between June 17, 2021 and August 18, 2021, inclusive (the “Class Period”). Nano-X investors have until December 6, 2021 to file a lead plaintiff motion.
Investors suffering losses on their 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 howardsmith@howardsmithlaw.com.
On August 19, 2021, Nano-X revealed that it had “received a request for additional information from the U.S. Food and Drug Administration (the ‘FDA’) concerning the Company’s last 510(k) submission of its multi-source device, Nanox.ARC.” The 510(k) submission was placed on hold pending the Company’s response.
On this news, the Company’s stock price fell $2.25 per share, or 9.5%, to close at $21.43 per share on August 19, 2021, 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 510(k) application for the Nanox.ARC was deficient; (2) accordingly, it was unlikely that the FDA would approve the 510(k) application for the Nanox.ARC in its current form; (3) as a result, Nano-X had overstated the Nanox. ARC's regulatory and commercial prospects; and (4) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Nano-X securities, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005831/en/
INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Nano-X Imaging Ltd. (NNOX) Investors
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
