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Lawsuit filed for Investors in shares of Nano-X Imaging Ltd. (NASDAQ: NNOX) over alleged securities laws violations

10-14-2021 04:08 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Nano-X Imaging Ltd. (NASDAQ: NNOX) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Nano-X Imaging Ltd. (NASDAQ: NNOX) shares over alleged securities laws violations.

An investor, who purchased shares of Nano-X Imaging Ltd. (NASDAQ: NNOX), filed a lawsuit over alleged violations of Federal Securities Laws by Nano-X Imaging Ltd. in connection with certain allegedly false and misleading statements made between June 17, 2021 and August 18, 2021.

Investors who purchased shares of Nano-X Imaging Ltd. (NASDAQ: NNOX) have certain options and for certain investors are short and strict deadlines running. Deadline: December 6, 2021. NASDAQ: NNOX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Israel based Nano-X Imaging Ltd. engages in developing and producing X-ray source technology for the medical imaging industry in the United States.

On August 19, 2021, Nano-X Imaging Ltd. 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.
Shares of Nano-X Imaging Ltd. (NASDAQ: NNOX) declined from $30.71 per share on August 9, 2021, to $21.11 per share on August 20, 2021.

The plaintiff claims that between June 17, 2021 and August 18, 2021, the defendants made false and/or misleading statements and/or failed to disclose that Nanox’s 510(k) application for the Nanox.ARC (an imaging system that uses a purportedly novel X-ray source) was deficient, thataccordingly, it was unlikely that the U.S. Food and Drug Administration (the “FDA”) would approve the 510(k) application for the Nanox.ARC in its current form, that as a result, Nanox had overstated Nanox.ARC’s regulatory and commercial prospects, and that as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damage

Those who purchased shares of Nano-X Imaging Ltd. (NASDAQ: NNOX) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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