A securities class action has been filed against Nano-X Imaging Ltd. (NNOX) on behalf of all investors who purchased or otherwise acquired Nano-X Imaging securities between March 31, 2025 through April 17, 2026. This case has been filed in the USDC – NJ.
According to the complaint, during the class period, defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) defendants overstated purported efficiency gains achieved in Nano- X’s operations, as well as the purported increased demand for its products; (ii) in reality, Nano-X’s production and manufacturing operations were poorly aligned with demand for the Company’s products; (iii) as a result, Nano-X was experiencing significantly increased operating expenses and cash burn; (iv) the foregoing significantly increased the likelihood that Nano-X would be forced to take disruptive remedial measures with respect to its manufacturing operations, entailing significant restructuring and impairment charges; and (v) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Plaintiff alleges that on April 20, 2026, when Nano-X issued a press release announcing its fourth quarter (“Q4”) 2025 financial results and business updates. Therein, Nano-X reported, inter alia, a Q4 net loss of $33.4 million, mainly due to a $17.5 million charge attributed to impairment of long-lived following a restructuring initiative at its Korean chip manufacturing facility. In explaining the restructuring charge, the press release acknowledged that Nano-X needed to “shift[] to a more efficient outsourced production model that is better aligned with current and anticipated demand.” The same press release also announced that Nano-X’s then-Chief Financial Officer (“CFO”), Defendant Ran Daniel (“Daniel”), would step down as CFO, effective July 31, 2026. On this news, the price of Nano-X’s stock price fell $0.695 per share, or 24.39%, to close at $2.155 per share on April 20, 2026.