GlobeNewswire Inc | Sep 23, 2020 04:31PM EDT

September 23, 2020

SAN FRANCISCO, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges Nano-X Imaging Ltd. (NASDAQ NNOX) investors to contact the firm now.

Class Period: Aug. 21, 2020 - Sept. 15, 2020Lead Plaintiff Deadline: Nov. 16, 2020Visit: www.hbsslaw.com/investor-fraud/NNOXContact An Attorney Now: NNOX@hbsslaw.com 844-916-0895

Nano-X Imaging (NNOX) Securities Class Action

The complaint alleges that throughout the Class Period, Defendants concealed that Nano-Xs: (1) commercial agreements and customers were fabricated; (2) statements regarding its novel Nanox System were misleading; and (3) Nano-Xs submission to the FDA admitted the Nanox System was not original.

Investors allegedly began to learn the truth on Sept. 15, 2020, when Citron Research published a report accusing Nano-X of conducting the most blatant stock promotion we have seen in years. Citron challenged Nano-Xs claimed new innovative technology, stating we have not even seen proof of the product and have only seen a mockup drawing of what this machine is supposed to look like. Citron also alleged that Nano-Xs commercial agreements appear to be no more than fake customers.

Following this report, the price of Nano-X shares crashed sharply lower.

Then, on Sept. 17, 2020 Empire Financial Research issued a report, stating that Nano-X looks like Theranos 2.0 and that this stock is worthless.

Finally, on Sept. 22, 2020 Muddy Waters published a report concluding that Nano-X is a much bigger piece of garbage than Nikola will ever be, based on interviews with radiologists and purported distributors. Muddy Waters stated Nano-Xs ARC device appears to be little more than a futuristic movie prop and [i]n fact, an Israeli company that designed a pickup truck used in the movie Jurassic World claims credit for its design.

Were focused on investors losses and proving Nano-X misrepresented the status of its X-ray source and commercial agreements, said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you are a Nano-X investor or may assist the firms investigation, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Nano-X should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email NNOX@hbsslaw.com.

About Hagens BermanHagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact Reed Kathrein, 844-916-0895