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OFFON

NANO-X IMAGING LTD.

(NNOX)
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The Law Offices of Frank R. Cruz : Announces the Filing of a Securities Class Action on Behalf of Nano-X Imaging Ltd. (NNOX) Investors

10/15/2021 | 01:06pm EST

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired 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.

If you are a shareholder who suffered a loss, click here to participate.

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.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased 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. To be a member of the Class 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. If you purchased Nano-X securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


ę Business Wire 2021
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Analyst Recommendations on NANO-X IMAGING LTD.
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Financials (USD)
Sales 2021 0,38 M - -
Net income 2021 -63,4 M - -
Net cash 2021 114 M - -
P/E ratio 2021 -13,2x
Yield 2021 -
Capitalization 914 M 914 M -
EV / Sales 2021 2 134x
EV / Sales 2022 87,9x
Nbr of Employees 50
Free-Float 78,6%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 17,69 $
Average target price 44,75 $
Spread / Average Target 153%
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Managers and Directors
Ran Poliakine Chairman & Chief Executive Officer
Ran Daniel Chief Financial Officer
Ofir Koren Chief Technology Officer
Uri Shimon Vice President-Information Systems & Technology
James Dara Chief Operating Officer
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