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