NNOX.US
id: 899
Nano-X (NNOX) Shareholder Settlement
Late claims are being considered for compensation, subject to approval.
E.D. New York
Court1:21-cv-05517
Case number08/21/2020
Class period Start11/17/2021
Class period End02/19/2024
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
10/05/2021
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
02/15/2024
Exclusion deadline
01/25/2024
Objection deadline
01/25/2024
Trades matching type
FIFO
+$8,000,000
Cash Settlement Amount