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LAWSUITS FILED AGAINST UCO, NNOX and NKLA - Jakubowitz Law Pursues Shareholders Claims

·4 mins read

NEW YORK, NY / ACCESSWIRE / September 27, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

Proshares Ultra Bloomberg Crude Oil (NYSE:UCO)

CONTACT JAKUBOWITZ ABOUT UCO:
https://claimyourloss.com/securities/proshares-ultra-bloomberg-crude-oil-loss-submission-form/?id=9637&from=1

Class Period : March 6, 2020 - April 27, 2020

Lead Plaintiff Deadline : September 28, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) decreased demand for oil due to the coronavirus pandemic and increased oil supply and diminished oil prices caused by the Russia/Saudi oil price war had caused extraordinary market volatility; (2) a massive influx of investor capital into the Fund, totaling hundreds of millions of dollars, in a matter of days had increased Fund inefficiencies, heightened illiquidity in the West Texas Intermediate ("WTI") futures contract markets in which the Fund invested, and caused the Fund to approach positional and regulatory limits (adverse trends exacerbated by the Offering itself); (3) there was a sharp divergence between spot and future prices in the WTI oil markets, leading to a super contango market dynamic as oil storage space in Cushing, Oklahoma dwindled and was insufficient to account for the excess supply expected to be delivered pursuant to the WTI May 2020 futures contract. As a result, UCO could not continue to pursue the passive investment strategy represented in the Registration Statement, causing its results to significantly deviate from its purported benchmark.

Nano-X Imaging Ltd. (NASDAQ:NNOX)

CONTACT JAKUBOWITZ ABOUT NNOX:
https://claimyourloss.com/securities/nano-x-imaging-ltd-loss-submission-form/?id=9637&from=1

Class Period : August 21, 2020 - September 15, 2020

Lead Plaintiff Deadline : November 16, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose 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 admitted the Nanox System was not original; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Nikola Corporation, f/k/a VectoIQ Acquisition Corp. (NASDAQ:NKLA)

CONTACT JAKUBOWITZ ABOUT NKLA:
https://claimyourloss.com/securities/nikola-corporation-f-k-a-vectoiq-acquisition-corp-loss-submission-form/?id=9637&from=1

Class Period : March 3, 2020 - September 15, 2020

Lead Plaintiff Deadline : November 16, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its "in-house" design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading "test" video of the Company's Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) as a result, defendants' public statements were materially false and/or misleading at all relevant times.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/607958/LAWSUITS-FILED-AGAINST-UCO-NNOX-and-NKLA--Jakubowitz-Law-Pursues-Shareholders-Claims