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BENSALEM, Pa., October 15, 2021--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming December 6, 2021 deadline 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 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 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 firstname.lastname@example.org.
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 or otherwise acquired Nano-X securities during the Class Period, you may move the Court no later than December 6, 2021 to 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@example.com, or visit our website at www.howardsmithlaw.com.
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