Securities Class Action Lawsuit Has Been Filed Against Nano-X Imaging Ltd.; Shareholders Urged to Contact the Firm

Nano-X Imaging Ltd. (NASDAQ:KNOX)

HENDERSONVILLE, TN, UNITED STATES, October 11, 2020 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles, a national shareholders rights firm who has been leading the fight to protect shareholder rights for over 19 years, announces that a federal securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of those who acquired Nano-X Imaging Ltd. ("Nano-X" or the Company") (NASDAQ: NNOX) securities during the period from August 21, 2020 through September 15, 2020 (the "Class Period"). The Nano-X class action lawsuit was commenced on September 16, 2020 in the Eastern District of New York and is captioned White v. Nano-X Imaging Ltd., No. 20-cv-04355.

Nano-X Accused of Misleading Shareholders

The filed complaint 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:

• Nano-X's commercial agreements and its customers were fabricated;
• 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;
• Nano-X's submission to the U.S. Food and Drug Administration ("FDA") admitted the Nanox System was not original; and
• as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On September 15, 2020, Citron Research published a report alleging, among other things, that Nano-X "is nothing more than a science project with a simple rendering, minimal R&D, fake customers, no FDA approval, and fraudulent claims that are beyond the realm of possibility."

On this news, the Company's share price fell $11.21, or nearly 23%, to close at $38.00 per share on September 15, 2020,

Nano-X Imaging fell to as low as $22.30 per share, intraday, as much as 22% to the lowest in after Muddy Waters named the company a short in a new report, comparing it to Nikola. It came a week after Citron released their negative call on the Company.

Nano-X Shareholders Urged to Contact the Firm

If you purchased Nano-X securities, have information, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Timothy L. Miles, Esquire, at 615-587-7384, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely awarded the recognition of American’s Most Honored Lawyers 2020 – Top 1% by the American Registry. Mr. Miles was also recently selected by Martindale-Hubbell^® and ALM as a 2020 Top Ranked Lawyer and a 2020 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019-2020). Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2018-2020); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).

Contact:
Timothy L. Miles, Esq.
Law Offices of Timothy L. Miles
124 Shiloh Ridge
Hendersonville, TN 37075
Telephone: (855-846-6529)
Email: tmiles@timmileslaw.com Website: www.timmileslaw.com
SOURCE: The Law Offices of Timothy L. Miles

Leading the Fight to Protect Shareholder Rights for Over 19 Years

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