NEW YORK, Aug. 1, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Nano Nuclear Energy Inc. (“Nano” or the “Company”) (NASDAQ: NNE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Nano and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 19, 2024, Hunterbrook Media (“Hunterbrook”) published a report entitled “Fission Impossible: Nano Nuclear Has No Revenue, No Products, ‘Laughable’ Timelines, Part-Time Executives, and a $600 Million Market Cap”. Among other allegations, the Hunterbrook report stated that while Nano “estimates that it will bring nuclear microreactors to market between 2030 and 2031”, “[a]n expert called this timeline ‘frankly laughable’ . . . given that competitors with more resources have taken 15-20 years for similar projects”; that “the company’s auditor was recently sanctioned and fined by the Public Company Accounting Oversight Board for taking on hundreds of SPAC clients without necessary resources”; and that “[a]s of July 2024, the U.S. Nuclear Regulatory Commission does not list [Nano] among the companies that have begun pre-application activities for the kind of reactor [Nano] is pitching.”
On this news, Nano’s stock price fell $3.33 per share, or 17.25%, to close at $15.97 per share on July 22, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP