BOSTON, Aug. 09, 2024 (GLOBE NEWSWIRE) -- On behalf of an individual investor, Block & Leviton LLP filed a class action lawsuit today against Nano Nuclear Energy, Inc. (Nasdaq: NNE), along with certain individuals, alleging that they violated federal securities laws by issuing false and misleading statements concerning the company’s business, operations, and prospects. A copy of the Complaint is available on Block & Leviton’s website.
The suit alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material facts, including that: 1) Nano Nuclear Energy, Inc.’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; 2) Nano Nuclear Energy, Inc.’s timelines for commercialization were wildly optimistic, at best, and most likely impossible; 3) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; 4) as a result, the Company's financial position and/or prospects were overstated; and 5) as a result, Defendants’ public statements were materially false and misleading at all relevant times. When the truth emerged, Nano Nuclear Energy, Inc. shares fell significantly, damaging investors according to the allegations of the suit.
The suit was brought in the Southern District of New York, and filed by Block & Leviton LLP. The case is captioned Yang v. Nano Nuclear Energy, Inc., No. 1:24-cv-06057 (S.D.N.Y.). The suit is brought on behalf of all those who purchased or otherwise acquired Nano Nuclear Energy, Inc. common stock between May 8, 2024, and July 18, 2024.
If you are an investor who purchased or otherwise acquired Nano Nuclear Energy, Inc. stock during the Class Period, you are a member of this proposed Class, and may be able to seek appointment as a lead plaintiff. This is a court-appointed representative of the class. To do so, you must comply with the relevant provisions of the Private Securities Litigation Reform Act, 15 U.S.C. 78u-4. If you wish to serve as lead plaintiff, you must move the Court by no later than October 8, 2024, the deadline established by this notice. You may contact Block & Leviton to learn more about serving as a lead plaintiff.
You do not need to seek to become a lead plaintiff to share in any possible recovery. You may retain counsel of your choice to represent you in this action.
You can learn more about the suit at Block & Leviton’s case webpage, by calling (888) 256-2510, or by emailing shareholders@blockleviton.com.
CONTACT:
Block & Leviton LLP
260 Franklin Street, Suite 1860
Boston, MA 02110
(888) 256-2510
shareholders@blockleviton.com
www.blockleviton.com
