PHILADELPHIA, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Berger Montague PC advises investors that a securities fraud class action lawsuit has been filed against NANO Nuclear Energy Inc. (“NANO” or the “Company”) (NASDAQ: NNE) on behalf of purchasers of NANO securities between May 8, 2024 and July 18, 2024, inclusive (the “Class Period”).
Investor Deadline: Investors who purchased or acquired NANO securities during the Class Period may, no later than October 8, 2024, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE.
NANO, headquartered in New York City, defines itself as an “early stage nuclear energy company” in the process of “developing smaller, cheaper, and safer advanced portable clean energy solutions.” It is currently developing ZEUS, a solid-core battery reactor and ODIN, a low-pressure coolant reactor.
According to the lawsuit, NANO and its senior executives misled investors about its financial and business prospects, failing to disclose that: (i) NANO’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; (ii) NANO’s timelines for commercialization were unreasonably optimistic; and (iii) these issues were likely to have a negative impact on NANO’s projected revenues and growth.
On July 19, 2024, investors learned the truth about the Company when Hunterbrook Media published a report entitled “Fission Impossible: Nano Nuclear Has No Revenue, No Products, ‘Laughable’ Timelines, Part-Time Executives, and a $600 Million Market Cap.” When the market absorbed this report, the price of NANO’s shares declined $3.33 per share, or 17%, on July 22, 2024.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.net
Peter Hamner
Berger Montague PC
(215) 875-3048
phamner@bm.net
