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NNOX.US
id: 899

Nano-X (NNOX) Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
E.D. New York
Court
1:21-cv-05517
Case number
21 Aug 2020
Class period Start
17 Nov 2021
Class period End
19 Feb 2024
Claim deadline
  • Nano-X submitted an application for FDA approval in June 2021, saying their Nanox.ARC is safe and effective.
  • Nano-X supposedly didn't admit the application had problems, and FDA asked for more info in August .
  • Nano-X agreed to pay $8M to investors to resolve the claims due to this case.
Nano-X claimed its Nanox.ARC had promising regulatory and commercial prospects based on a submission to the FDA.

On August 19, 2021, Nano-X revealed the FDA requested more information, leading to a nearly 10% $NNOX drop.

Nano-X supposedly misled investors by not disclosing deficiencies in the submission, making FDA approval unlikely.

Nano-X has now decided to end these allegations and pay a $8M settlement.
Case Status
Accepting Late Claims
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.235
Filing date
05 October 2021
Plaintiffs
Daniel P. McLaughlin
Attorneys
Pomerantz LLP
Defendants
Ran Poliakine, Itzhak Maayan
Judge
Rachel P. Kovner
Administrator
EPIQ
Settlement agreement date
2023-06-02
Court hearing date
15 February 2024
Exclusion deadline
25 January 2024
Objection deadline
25 January 2024
Trades matching type
FIFO
+$8,000,000
Cash Settlement Amount

Nano X Imaging Ltd

Nano-X Imaging Ltd. develops a commercial-grade tomographic imaging device with a digital X-ray source. The company provides teleradiology services and develops artificial intelligence applications...

    Ticker
    NNOX.US
    ISIN
    IL0011681371
    CIK
    1795251
    Sector
    Healthcare
    Industry
    Medical Devices
    Country
    USA
    Address
    Communication Center, Neve Ilan, Israel, 9085000